Latest data released by Destatis - 24 February 2021
- GDP (non-seasonally adjusted) -2.7% vs -2.9% y/y prelim
- GDP (working day adjusted) -3.7% vs -3.9% y/y prelim
- Private consumption -3.3% vs -1.5% q/q expected
- Prior (Q3) +10.8%
Slight delay in the release by the source. The preliminary report can be found here.
That's a bump to the initial estimate as the German economy barely squeezed out growth at the end of last year, but at least that beats out fears of a possible contraction.
This does offer a glimpse that Q1 economic activity may not be as bad as feared as well but unless the vaccine rollout progresses more quickly and efficiently in the coming months, the euro currency may still struggle for meaningful traction moving forward.
