A Good Price for the Euro

Perhaps you saw this morning’s release of Euroland’s economic data.

German GDP jumped by 0.7% in the third quarter. Adding to GDP was an inventory build and capital investment; subtracting from GDP was consumption and trade.

Not so stellar, but somewhat reassuring nonetheless, was an increase in new industrial orders – rising 1.5% since last month but still down more than 16% from a year ago.