Bankinter: Final 3Q24 GDP data defies estimates, -0.3% year-on-year vs. -0.2% estimated and -0.3% previous. The German economy confirms its weakness and now has five consecutive quarters with negative growth rates. This evolution offers more arguments for the ECB to accelerate rate cuts in its next meetings, as we expect. This would ensure that it can implement them before the measures planned by the incoming Trump administration cause US inflation to accelerate and force the Fed to be less dovish.
Germany’s 3Q24 final GDP defies estimates, -0.3% year-on-year vs. -0.2% estimate and -0.3% prior
