Eurozone Prelim GDP arrives at 0.1% QoQ in Q4 vs. 0.1% expected

After Germany flirted with a recession in the final quarter of 2019, the Eurozone economy steadied in the fourth quarter, the latest figures released  |  14/02/2020 10:02
  • Eurozone GDP (QoQ) (Q4):  0.1% actual vs 0.1% expected.
  • Eurozone GDP (YoY) (Q4): 0.9% actual vs. 1% expected.

After Germany flirted with a recession in the final quarter of 2019, the Eurozone economy steadied in the fourth quarter, the latest figures released by Eurostat showed on Friday.

The bloc’s quarterly reading came in at 0.1%, matching the expectation of +0.1% and +0.1% reported in Q3. The annualized figure arrived at 0.9% vs. 1% expected and 1% last.

The number of employed persons in the Eurozone increased by 0.3% QoQ in Q4 vs. +0.1% expected and +0.1% previous. Meanwhile, the seasonally adjusted Trade Balance for the bloc stood at EUR22.2 billion in December vs. EUR21.6 billion expected and EUR19.1 recorded in November.

About Eurozone GDP

The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

FX Implications

The shared currency remains unfazed by mixed Eurozone macro news, as EUR/USD keeps its corrective bounce intact near 1.0850 region. The downbeat German growth figures also failed to impress the EUR bears.

The main currency pair is making recovery attempts from a new 34-month low reached in early Asia at 1.0828. Despite the upside attempts, the risks remain skewed to the downside for EUR/USD amid EU-US macro divergence and dovish ECB expectations.

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