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Weak consumption pushed German economy to stagnate

14 Feb 2020 12:25 PM

German economy suffered from stagnation in the fourth quarter in 2019, as private consumption and state spending lost momentum, according to preliminary data this morning.

German GDP expanded in the fourth quarter on yearly basis by 0.4%, after expanding by 0.6% in the third quarter, on quarterly basis economy didn’t record growth against markets expectations of expansion of 0.1%.

After these negative data the euro suffering and continue falling against US dollar hitting the lowest level in almost 3 years at 1.0846 and is expected to fall further to next support at 1.0800.