Signs of slowing economies also emerged in other European countries, with GDP growth coming in below forecast for Norway, the Czech Republic, Slovakia and Hungary.
Italy bucked the trend, however, reporting slightly faster-than-expected growth of 0.3% in the third quarter, after having stagnated in the second quarter.
'Political uncertainties'
The slowdown in Germany's growth rate means the country grew more slowly than the eurozone as a whole in the third quarter, with the 19-nation bloc expanding at a rate of 0.3%, according to latest estimates.
Howard Archer, chief European and UK economist at IHS Global Insight, said he expected eurozone GDP growth to pick up to 0.4% in the fourth quarter, given recent upbeat survey data.
He predicted the eurozone would grow by 1.6% in 2016 as a while, but thought growth could slow to 1.3% next year "as it is likely to be increasingly hampered by political uncertainties".
"The political environment could be increasingly problematic for eurozone growth over the coming months, especially given that the UK's Brexit vote in June and November's election of Donald Trump as US President fuels concern over potential political shocks in the eurozone," Mr Archer said.
"General elections are due 2017 in the Netherlands (in March), France (in April/May) and Germany (around September), and the Renzi government is looking vulnerable in Italy, particularly over constitutional reform.

GuneevRussia’s economy minister detained, investigated over alleged $2mn bribe linked to big oil deal
The dollar-traded RTS index was up 1.5 percent, and the ruble-denominated MICEX was trading flat to positive.

Ulyukayev was arrested on Tuesday after being accused of taking a $2 million bribe to green light oil major Rosneft's takeover of smaller rival Bashneft. Both oil companies are state-owned, and the privatization of Bashneft filled a budget hole, due to lower earnings from energy resources.

In July, Ulyukayev opposed the deal, saying state-owned company Rosneft should not participate in the takeover. Apparently, he changed his mind by October, when the $5.3 billion deal was sealed.

There were other reasons behind the ruble growth on Tuesday.

Oil prices recovered with Brent gaining 73 cents, trading at $45.16 per barrel on renewed hopes of an OPEC production cut. The price of the Russian oil benchmark the Urals blend is pegged to Brent quotes.

On top of that, Russian President Vladimir Putin spoke by telephone to US President-elect Donald Trump. According to the Kremlin, the two leaders agreed the current economic ties between the countries are at the worst level since the Cold War and needed to improve.

“During the conversation, Putin and Trump not only acknowledged current US-Russia relations as highly unsatisfactory, but also called for joint work to normalize ties toward constructive cooperation on a wide range of issues,” said a Kremlin statement.

Trump told Putin that he’s “very much looking forward to having a strong and enduring relationship with Russia and the people of Russia.

The 6th Ulaanbaatar Burns Supper will take place on 28th January 2017.
Tickets are now on sale for this event at http://www.mongolianconsul.com/ulan-bator-burns-supper-2016/

Monday marked the second day of Copper 2016, a major industry event at the Kobe International Conference Center in Japan. Global demand has been climbing 2% a year, and the industry's hard times will be over in three years, said Diego Hernandez, former president of Chilean state copper company Codelco and former head of resource giant Antofagasta.

The audience was reassured by these comments but clearly remained shocked by the metal's recent upswing. A Trump win had been expected to send prices lower, but his promises of increased infrastructure investment sparked a rally. Three-month copper futures jumped on the London Metal Exchange last Wednesday, after Trump's victory became clear, and climbed past $6,000 a ton at one point Friday. They hovered around $5,660 in off-hours trading Monday evening.

"Investors started buying Oct. 25, anticipating an increase in Chinese construction demand," said Tatsufumi Okoshi, senior economist at Nomura Securities. Improving economic indicators raised expectations of a pickup in building and renovating such facilities as ports, airports and schools. The electrical wires and machinery used in construction require a great deal of copper. "Hopes of infrastructure investment in the U.S. and China led to a copper rebound," Okoshi said.

Yet not everyone in the industry is bullish. "I'm glad, but at the same time, we have to watch out for an influx of speculative money," JX Nippon Mining & Metals President Shigeru Oi said. The company is a unit of JX Holdings.

Many market watchers see covering of shorts by U.S. and European hedge funds and Chinese speculators as contributing to the rally. "It's unclear whether prices will stabilize," Sumitomo Metal Mining Chairman Nobumasa Kemori said.

Some also argue that the rebound has not gone far enough to justify resuming mine development. The average mine will not be profitable unless prices recover to $6,600, Hernandez said.

Cost-cutting is crucial for mining companies to ensure that they are not at the mercy of market fluctuations. JX Nippon Mining and Codelco have developed a process that uses bacteria to boost copper yields from ore by 30-50%, which the Japanese company will implement at its mines. Mitsubishi Materials has developed a process that examines aerial photographs shot by drones to detect topographical changes that could affect mining.

Copper prices topped $10,000 in 2011 but plunged after that as inventories swelled in China. Now that the supply-demand balance has improved there, the focus has shifted to the U.S. economy, which could be the next big factor to shake up the market.