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  • German trade figures for October add to the run of positive figures for early Q4. 
  • Our nowcast model suggests we are right to look for an increase in GDP in Q4 after stagnation in Q3. 
  • Risks remain, however, as leading indicators point to renewed weakness in goods trade in November.

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Keywords for: 10 December 2025 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence