The sick man of Europe – that not-so-flattering nickname to Germany's economy has resurfaced.
Initial German GDP data for Q3 is set to confirm another recession in Europe's largest economy. Eurozone GDP may also be dragged down by Germany ’s subdued performance, showing that the drop in inflation is symptomatic of a worse outcome. The contrast with US solid growth may exacerbate pressure on EUR/USD. The sick man of Europe – that not-so-flattering nickname to Germany 's economy has resurfaced.
Even a no-change figure would fail to inspire because barely avoiding an official recession is uninspiring and it doesn’t change the big picture of a struggling economy. German data feeds into the 20-strong Eurozone output figures, which will be released shortly afterward on Wednesday. Economists expect a growth rate of 0.2%, driven by expectations of a 0.4% growth rate in France, the second- largest economy, 0.2% in Italy, the third, and 0.6% in Spain, the fourth.
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