8/19/2019, 12:20 PM (Source: TeleTrader)
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Bundesbank warns of economic downturn in Q3

Germany's gross domestic product figure may decline in the third quarter, following sentiment from the second quarter, Bundesbank said in its monthly report on Monday. The central bank noted that weaker economic sentiment came from a drop in exports, partially brought on by Brexit's March date which increased inventory purchases before March.

A fall in industrial production is possible in the third quarter, the bank added. The jobs market and services are also showing signs of decline.

Bundesbank pointed out that the German economy remains sensitive to market sentiment as it is determined by global trade tensions and monetary policy. However, the bank pointed out that despite an overall decline in the economy, lending and construction increased.

Baha Breaking News (BBN) / VP