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The markets are bracing for some significantly negative results for last quarter’s GDP.
Although all the talk currently is about the recovery, how far economic activity dropped is an important factor.
It’s necessary to figure out how long we can reasonably expect it to take for the major economies in the world to recover.
These preliminary Q2 GDP figures are likely to be the driving force behind currency and equity moves for the rest of the week.
Germany Doing the Best?
Germany gets a lot of praise for its handling of the pandemic, and it seems to be showing in their economic figures. The hope is that this will give them a faster return to normal, and boosts the Euro Area.
Projections are for the German Q2 GDP to have contracted by -9.0% over the last three months, compared to -2.2% in the first quarter.
Expectations are for annualized GDP to show -11.3% growth compared to the prior reading of -2.3%. This would be the fastest quarterly contraction since WWII.
The US Likely ...
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