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Germany staved off the threat of recession

Germany staved off the threat of recession | 31 October 2022

31 October 2022, EUR/USD

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Germany staved off the threat of recession in the third quarter with unexpected growth but the economy remained in choppy waters as high inflation driven by a painful energy standoff with Russia surged, data fresh showed. Consumer prices, harmonised to compare with other European Union countries, were up 11.6% on the year in October, the federal statistics office said. The inflation was likely to stay in double-digit territory for some time, keeping pressure on the European Central Bank to continue raising interest rates after it hiked them to their highest level since 2009 on Thursday.

Investment idea: range 0.9880 - 0.9980.

David Johnson
Analyst of «FreshForex» company
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