Friday, November 22, 2013

22/11/2013: German GDP - no surprise to the downside

German GDP figures out: Q2 2013 confirmed at +0.7% q/q, Q3 2013 final at 0.3% q/q. Year-on-Year Q3 2013 at +1.1%, exports up only +0.1% q/q, imports up +0.8% q/q.

A chart (via @moved_average):


And the chart lesson? Recovery period: 2010-to-date: Trend growth down-sloping, volatility consistent with 2002-2007 period. The latest recovery sub-period - unconvincing.

More on euro area growth: http://trueeconomics.blogspot.ie/2013/11/20112013-euro-area-zaporozhetz-of-growth.html
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