Germany’s Exports Fall Less Than Forecast

Germany’s exports declined less than expected in September, while imports dropped unexpectedly from August, data from Destatis revealed Thursday.

Exports fell 0.4 percent month-on-month in September, reversing a 2 percent rise in August. Shipments were forecast to decline 1.3 percent.

Imports slid unexpectedly by 1 percent on a monthly basis, in contrast to a 0.8 percent increase in August. Economists had forecast a 0.4 percent monthly growth.

As a result, the trade surplus rose slightly to seasonally adjusted EUR 21.8 billion from EUR 21.3 billion a month ago.

On a yearly basis, exports growth slowed to 4.6 percent from 7.3 percent. Likewise, growth in imports eased to 5.5 percent from 8.2 percent in August.

The current account of the balance of payments showed a surplus of EUR 25.4 billion versus EUR 23.5 billion in the same period of 2016.
Source: RTT News