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In this morning’s Money Minute, we look to the third quarter GDP figure for the eurozone as a whole. Eurozone economic output is expected to have grown by around 0.2% for the three months to the end of September.
More closely watched, however, will be the German GDP data for the same quarter. Germany’s GDP shrank by 0.1% in the second quarter. If it shrinks again in the third quarter, that would mean the German economy is technically in recession.
That said, low interest rates mean that while German manufacturing is struggling, consumer demand is holding up well. So even if the country is in recession, it’s very much down to a specific sector of the economy.
Later in the day, we get the latest weekly update on jobless claims from the US. Last week’s report was better than expected. Despite concerns about a US slowdown, it doesn’t seem to be showing up in the American dole queue as yet.