Eurozone Q3 GDP Comes in at Just 0.2% Growth Due to German Contraction
Slow quarterly growth has been reported in the Eurozone with a Q3 GDP of just 0.2% and a year-over-year growth reading of 1.7%.
German Q3 GDP Drops 0.2%
Germany’s GDP dropped by 0.2% in Q3 2018, the first contraction since 2015. International trade disputes are likely to blame for the Q3 decline of Europe’s economic powerhouse, raising concerns that the decade-long expansion period may be coming to a close.
Japan's Q3 GDP Declines Following Natural Disasters
Japan’s gross domestic product contracted an annualized 1.2% from July to September with the Finance Minister pointing to natural disasters and poor exports as the main causes.
Economic Expectations in Germany Remain Low
The ZEW Indicator of Economic Sentiment in Germany increased slightly by 0.6 points this month and remains at the negative side of the spectrum with a reading of -24.1, a far cry from the long-term average of 22.7 points.
Consumer Sentiment in U.S. Remains High After Modest Pullback
US consumer sentiment continued to hold firm in the face of midterm election uncertainty in October, although the University of Michigan Consumer Sentiment Index showed a mild decline from 98.6 to 98.3.
Gold Drops Over 1% as October PPI Shows Six Year High in Producer Prices
October saw the highest wholesale inflation in six years with higher gas prices and costs for business equipment and machinery seeing significant increases.
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