First German economy’s contraction since 2015 was mostly caused by lower export and private consumption, Bloomberg reports. If the largest economy in Europe is to be rebounded at the end of this year, then these two trends have to reverse.

Decline of GDP by 0,2% in third quarter, according to Bundesbank, was caused by problems in automobile sector, and most likely was temporary.

New data issued today will be used by ECB to make final decision on quitting bonds purchasing program till the end of this year. Export fell by 0,9%, while consumption declined by 0,3%.

Bundesbank expects growth recovery in last three months of this year after cars production returns to normal level. We would like to remind that problems in this sector were caused by new rules in regards to emission testing.

Germany’s economic development is a key factor for growth of the region as a whole. Euro area recently is under pressure of trade protectionism, Italy’s dispute with EU and Brexit.

Last ECB meeting this year will take place on December’13. The bank will announce final decision in regards to assets purchase program as well as update economic forecast.