German 2023 preliminary GDP contracts 0.3% YoY, as expected

Germany’s preliminary Real GDP for 2023 contracted at an annual pace of 0.3%, as widely expected, the latest data published by the federal statistics authority Destatis showed Monday. 

Additional takeaways

Meanwhile, the German fourth-quarter (Q4) GDP in 2023 fell 0.3% compared with the previous quarter.

Measured as a percentage of nominal GDP, there was a 2.0% deficit ratio of general government for 2023.

German general government budget recorded financial deficit of EUR82.7 billion at end of 2023.

Market reaction

EUR/USD is defending minor bids near 1.0950 following the German data. The pair is stuck in a narrow range due to the US holiday-led thin trading.

Euro price today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the .

USD -0.04%0.00%-0.03%0.03%-0.03%0.06%0.01%
EUR0.06% 0.03%-0.01%0.06%0.01%0.10%0.05%
GBP-0.01%-0.03% -0.04%0.02%-0.02%0.07%0.02%
CAD0.05%0.00%0.05% 0.06%0.00%0.10%0.06%
AUD-0.03%-0.06%0.00%-0.05% -0.03%0.05%0.01%
JPY0.04%-0.04%-0.11%-0.01%0.06% 0.09%0.04%
NZD-0.06%-0.13%-0.07%-0.11%-0.05%-0.09% -0.05%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).

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