Report
Germany: should we succumb to the prevailing pessimism?
Germany’s GDP growth has slowed sharply, falling to 1.1% year-on-year in Q3, vs 2.7% end-2017. Watch out for an optical effect, however. On the one hand, in Q3 automotive production was distorted (WLTP standards) and subsequently, real GDP contracted (-0.2% q-o-q). On the other hand, 2017 is an exceptionally demanding comparative base. What is the outlook? It is favourable regarding domestic demand, but much more uncertain for external demand. Barring an accumulation of auto trad...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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