Germany Q3 final GDP +8.5% vs +8.2% q/q prelim

Latest data released by Destatios – 24 November 2020

  • GDP (non-seasonally adjusted) -3.9% vs -4.1% y/y prelim
  • GDP (working day adjusted) -4.0% vs -4.3% y/y prelim
  • Private consumption +10.8% vs +9.0% q/q expected
  • Prior -10.9%; revised to -11.1%
  • Capital investment +3.6% vs +6.0% q/q expected
  • Prior -7.9%; revised to -6.6%
The preliminary release can be found here. The final reading sees a slightly more positive revision but it does little to change the current market focus, amid the more gloomy backdrop in Q4 as tighter restrictions look set to extend into December.