Germany: Slowing economic momentum – Nomura

FXStreet (Delhi) – Research Team at Nomura, note that the German economic momentum slowed to its slowest in three months in October, down from a near two-year high in September.

Key Quotes

“The message from the sectoral breakdown was also on the slightly softer side with all sectors (except construction) experiencing slower momentum compared with the previous month, but maintaining above-trend growth.”

“After staying broadly unchanged for the past five months, foreign demand momentum decelerated to its lowest level since September 2014, reflecting a weak external environment. The domestic consumer sector also showed some sign of modest slowdown with momentum turning more negative (but activity still well above-trend). Despite this, momentum in hiring intentions accelerated in October.”