Euro flat as German economy returns to growth
Currencies Direct February 19th 2013 - < 1 minute read
Euro
currency exchange rates are mostly flat in trading this morning
(February 19th), as Germany’s economy returns to a state of
expansion.
This is according to the country’s central bank the Bundesbank,
which stated that the nation – which is the largest both in the
eurozone and wider European Union region – will dodge recession and
make progress in terms of gross domestic product (GDP) growth in
the first quarter of 2013.
The lender’s report for this month projects that the rest of this
year will see a gradual improvement in economic activity, which
comes as very welcome news after GDP shrank by 0.6 per cent in the
final three months of 2012.
If Germany’s economy shrank again in the January-March period, the
nation would be in a technical recession, which is defined as two
consecutive quarters of contraction.
At 08:30 GMT, the euro was stable against the dollar at 1.334 USD,
while it lost marginal ground in trading with the pound to 0.862
GBP.
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Currencies Direct