German Economy Minister: GDP stagnation temporary result of geopolitical tensions

FXStreet (Łódź) - Following the disappointing release of preliminary German GDP numbers for the second quarter of the year the Economy Minister and Vice Chancellor Sigmar Gabriel crossed the wires saying that the economy should expand in the second part of the year.

He suggested that the stagnation resulted from current geopolitical tensions but that it should be a temporary effect. The German official stressed that in the current environment it is crucial to adhere to the established economic strategy.

Meanwhile, the EUR is strong against the dollar on Thursday despite the poor Eurozone GDP and CPI data and the pair is approaching the 1.3400 area.