Fri. Sep 25th, 2020

Germany avoids recession with surprise return to growth – business live

Rolling coverage of the latest economic and financial news, including German growth figures

10.08am GMT

Just in: The eurozone grew by 0.2% in the third quarter of the year, helped by the modest recovery in Germany.

That’s according to the latest GDP report from Eurostat, which confirms last month’s ‘flash estimate’.

Euro area #GDP +0.2% in Q3 2019, +1.2% compared with Q3 2018: flash estimate from #Eurostat https://t.co/uzvre7SHW3 pic.twitter.com/eB1TLNMyse

10.01am GMT

Just in: UK retail sales were weaker than expected last month.

Retail sales volumes fell by 0.1% during October, the Office for National Statistics says. Economists had expected a rise of 0.2%. Strip out petrol, and volumes were down 0.3%.

Latest retail sales numbers suggest consumers may be running out of steam, with volumes up 0.2% in three months to Oct – that growth driven by flurry of promotional activity as retailers try to lure them in & food (stockpiling?)

Customary health warning. The retail sales monthly changes figures don’t tell us much about anything. Treat with caution. Or over-analyse the life out of it, whatever floats your boat… pic.twitter.com/Elaqe3pVrF

Continue reading…Rolling coverage of the latest economic and financial news, including German growth figuresBreaking: Germany grew by 0.1% in the last quarterEconomists expected another contractionConsumer spending, government and exports lifted growthQ2 GDP revised down to -0.2% 10.08am GMTJust in: The eurozone grew by 0.2% in the third quarter of the year, helped by the modest recovery in Germany.That’s according to the latest GDP report from Eurostat, which confirms last month’s ‘flash estimate’.Euro area #GDP +0.2% in Q3 2019, +1.2% compared with Q3 2018: flash estimate from #Eurostat https://t.co/uzvre7SHW3 pic.twitter.com/eB1TLNMyse 10.01am GMTJust in: UK retail sales were weaker than expected last month. Retail sales volumes fell by 0.1% during October, the Office for National Statistics says. Economists had expected a rise of 0.2%. Strip out petrol, and volumes were down 0.3%.Latest retail sales numbers suggest consumers may be running out of steam, with volumes up 0.2% in three months to Oct – that growth driven by flurry of promotional activity as retailers try to lure them in & food (stockpiling?)Customary health warning. The retail sales monthly changes figures don’t tell us much about anything. Treat with caution. Or over-analyse the life out of it, whatever floats your boat… pic.twitter.com/Elaqe3pVrF Continue reading…