German Q3 unadjusted GDP preliminary at 1% YoY, below 1.2% forecast

The miss matters less for its size than for what it says about momentum: Europe's largest economy is holding its prior pace rather than accelerating, and the shortfall against consensus suggests forecasts were leaning too optimistic. For crypto and RWA markets, German growth data feed into the broader euro-area risk backdrop that shapes sentiment toward digital assets, though the link is indirect. The open question is whether this flat trajectory persists into the next reading or whether revisions shift the picture.