“We are not expecting a recession. We don’t anticipate a contraction in the third quarter. Private consumption remains supportive and foreign trade should also make a positive contribution”
So says Jeromin Zettelmeyer who is head of economic policy at the German economic ministry
We’ll find out soon enough as we get Europe’s first Q3 GDP numbers tomorrow. Germany is expected to post a q/q gain of 0.1% vs -0.2% prior, 1.0% vs 0.8% y/y NSA (WDA y/y 1.1% vs 1.2% prior)
