Third-quarter GDP rises 8.5%, improving expectations

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The Germany’s Gross Domestic Product rose 8.5% in the third quarter of the year, exceeding the 8.2% expected. This is the first rise recorded by the indicator since the third quarter of 2019. In the second quarter of 2020, the GDP fell by 9.7%.

Annualized GDP fell 4%, improving on the expected 4.3% decline. This is the third consecutive fall for the indicator, after it fell 2.2% in the first quarter and 11.3% in the second.

EUR / USD reaction

EUR / USD has ignored the German data and remains trading around 1.1855 after previously hitting a daily high at 1.1857. The pair is trading above 1.1853 at time of writing, gaining 0.13% on the day.

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