Germany’s Q2 GDP 0.1% qtr/qtr (expected 0.0%; last 0.2%); 1.8% yr/yr (expected 1.5%; last 1.5%). August ifo Business Climate Index 88.5 (expected 86.8; last 88.7). August Current Assessment 97.5 (expected 96.0; last 97.7) and Business Expectations 80.3 (expected 79.0; last 80.4)
U.K.’s August CBI Distributive Trades Survey 37 (expected -7; last -4)
France’s August Business Survey 104, as expected (last 106)
Spain’s July PPI 40.4% yr/yr (last 43.1%)
Germany’s Q2 GDP was revised higher by ten basis points after the flash reading showed no growth.
Germany’s economy ministry warned that it sees future problems with the supply of coal for power plants and the supply of oil for the eastern part of the country. Economists from Germany’s ifo Institute warned that the risk of recession remains present, though supply chain bottlenecks eased in August.
Norwegian Air reported a decrease in profit for Q2 and warned that high fuel prices will impact results for the year.