Weaker-than-expected Chinese numbers also dented sentiment, with Asia’s main equity indices closing out the week lower.
A bit of profit-taking appeared to be setting in on Friday in the rally which has driven Wall Street’s main share indices to all-time highs in recent weeks. Germany was the major drag on growth in the January to March period, with exports unable to overcome a steep drop in demand by confined consumers, analysts said.“The economic recovery was always likely to be uneven in nature, and this morning’s growth figures highlighted exactly that,” said IG analyst Josh Mahony, noting that confinement measures pushed Germany into a contraction while France grew modestly.