Eurozone’s largest economy only expanded by 0.2% in the last quarter as weak exports hit growth * German GDP: Growth slows as exports fall * Coming up: UK inflation expected to rise again, at 9.30am * Bond market reels from Trump selloff * Barack Obama is in Greece. * Bank of England governor testifies at 10am GMT 8.36am GMT Not so good for Germany as GDP only increased by 0.2% in the 3rd quarter https://t.co/sY6yrXu5Kr Imagine if the UK had done that! 8.30am GMT Europe’s stock markets are mainly creeping higher this morning: 8.22am GMT BRITAIN’S FTSE 100 INDEX HAS JUMPED BY 46 POINT AT THE START OF TRADING. Supermarket group Tesco has jumped by 3%, after new data shows sales growing at their fastest rate since 2013: Tesco benefits from fastest sales growth in three years: https://t.co/swFqRW29i3 Grocery share data from our @KWP_UK #grocery #data #Tesco pic.twitter.com/ZBHReFMig8 Kantar data boosts supermarkets: Wm Morrison (+3.3%) Tesco (+3%). Sainsbury (+2.6%) https://t.co/zVV9dmX1HR 8.14am GMT Jeroen Blokland of Robeco Asset Management is also concerned that Germany’s economy has faltered: Uh-oh, #Germany's #GDP growth disappoints at 0.2% in Q3, slowest in a year. pic.twitter.com/iDEIFiJubA 7.59am GMT Analysts at Citi reckon Germany’s economy suffered from the shock of Britain’s vote to leave the EU: Acc to Citi, #Brexit uncertainty is to blame for German GDP growth slowdown. "#Germany did experience significant spill-over from UK shock." pic.twitter.com/KdfUzr3vEA 7.54am GMT GERMANY’S WEAK PERFORMANCE MAY DRAG DOWN THE WIDER EUROZONE GROWTH RATE, WHICH IS PUBLISHED AT 10AM. Figures released earlier this month suggested euro area GDP expanded by 0.3%, but Holger Sandte of Nordea Markets fears that could be too optimistic. German #GDP growth of 0.2% q/q in Q3 makes 0.3 for the Euro area pretty likely Rollercoaster ride ends with a soft landing. German GDP growth slows down to 0.2% QoQ in third quarter. #Germany disappoints. GDP grew by 0.2% QoQ in Q3 vs 0.3% expected & down from 0.4% in Q2 & 0.7% in Q1 as net exports contributes negatively. pic.twitter.com/kFgh13xEgN 7.33am GMT BAD NEWS: GERMANY’S ECONOMY HAS SUFFERED A SURPRISE SLOWDOWN, WITH GROWTH HALVING IN THE LAST THREE MONTHS AS FOREIGN TRADE WANED. The eurozone’s largest economy only expanded by 0.2% in the third quarter of this year, figures just released show. Foreign trade had a downward effect on growth. Exports were slightly down while imports were slightly up compared with the second quarter of 2016. 7.17am GMT GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKET, THE EUROZONE AND BUSINESS. There’s lots happening today, both in the financial world and the markets. Fears about the inflationary potential of Donald Trump’s planned tax cuts and infrastructure spending have sent shock waves through the world’s bond markets, as investors take fright at the prospect of higher than expected interest rates in the years ahead. Central banks are braced to suffer fresh losses on their vast holdings of government debt after the sell-off that saw $1tn wiped off the value of bonds last week intensified on Monday. Related: Global bonds slump as Trump prompts inflation fears Related: Barack Obama calls for 'meaningful debt relief' for Greece Athens locked down as police focus on terror concerns during Obama visit https://t.co/VKFX5OU65b pic.twitter.com/xs379IVZxo Continue reading...
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