Strong German Data Gave Little Support for DAX
The stock markets of Germany and the euro remained stable, despite the fact that the coalition negotiations collapsed last week. This indicates that investors remain optimistic about the German economy.
The DAX index shows limited movement today. The DAX increased by 0.10% and is trading at the level of 13.001.00. Germany's GDP grew by 0.8% in the third quarter, as expected, after rising 0.6% in the second quarter. In annual terms, GDP grew by 2.8%, after rising 2.3% earlier.
Manufacturing sectors in Germany and the Eurozone have been buoyed by an increase in global demand and stronger domestic consumption. German Manufacturing PMI improved to 62.5, exceeding the forecast of 60.4 points. This was the highest rate since 2010. Eurozone Manufacturing PMI also continued to rise, rising to 60.0, exceeding the forecast of 58.3 points.