Futures Rebound From Asia Rout, Bitcoin Back Over $51,000 zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
European shares opened generally higher on Wednesday but world shares remained in the red after a weak Asian session, even after Fed Chair Jerome Powell pushed back against inflation fears. Falling tech stocks pulled Asian markets lower overnight, as recent gains in U.S. Treasury yields put lofty valuations under pressure. In his testimony before the .
Strong exports and solid construction activity helped the German economy to grow by a better-than-expected 0.3% in the final quarter of last year, but stricter lockdown measures at home and abroad are clouding the outlook for Europe's largest economy. The data, published by the Federal Statistics Office on Wednesday, marked an upward revision to its earlier estimate for a 0.1% expansion over the previous quarter. Adjusted for calendar effects, the German economy shrank by 5.3% last year, a much smaller contraction than in many other European countries, helped by a strong fiscal response to the damage caused by the COVID-19 pandemic.
The German economy grew by a stronger than expected 0.3% in the final quarter of last year, helped by bullish exports and solid construction activity, the Federal Statistics Office said today in a revision to an earlier estimate.