The Germany’s preliminary Gross Domestic Product for the first quarter of 2021 stood at -1.7%, worsening the expected -1.5%. In the fourth quarter of last year, the economy grew 0.3%. This is the first drop in GDP since the second quarter of 2020.
Annual GDP has fallen 3% in the first quarter of the year, moderating the estimated 3.2% decline after plummeting 3.7% the previous quarter. This is the fifth consecutive month of negative growth in Germany.
EUR / USD reaction
The EUR/USD it has fallen to new lows of two days after the publication of the German figures. The pair, which had hit an intraday high at 1.2126 during the Asian session, has decendido a 1.2094 right after the data. At the time of writing, the euro is trading against the dollar over 1.2101, losing 0.17% daily.
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