7/22/2019, 12:28 PM (Source: TeleTrader)
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Buba: German GDP may have decreased in Q2

Exporters have continued to struggle, Germany's central bank said on Monday in its monthly report and cited the lack of recovery in manufacturing overall. The Bundesbank suggested the Eurozone's largest economy has shrunk "slightly" in the three months through June, in line with its previous warning. It pointed to the 3.7% drop in production year over year in May, the worst reading in five months.

On the flipside, the document's authors said, domestic momentum didn't weaken as consumer sentiment is bright. They attributed the optimism to the tight labor market. The document highlights the impact on factories from the uncertainty regarding the United Kingdom's departure from the European Union.

Breaking the News / IT