German Preliminary GDP unexpectedly expands 0.2% QoQ in Q3 vs. -0.1% expected

• German GDP rises 0.2% QoQ in Q3 vs. -0.1% estimated.
• Annual German GDP contracts 0.2% in Q3 vs. -0.3% forecast.
• EUR/USD rises further on the upbeat German Q3 GDP report.

The German economy expanded by 0.2% over the quarter in the third quarter of 2024 after shrinking 0.1% in the second quarter, according to the preliminary data published by Destatis on Wednesday. The market consensus was for a 0.1% decline.