Tags: APFN | EU | Germany | Economy

German Exports a Bit Lower in June, Add to Economic Clouds

Friday, 09 August 2019 03:38 AM

BERLIN (AP) — German exports were a little lower in June than the previous month and dropped 8% in year-on-year terms, reinforcing expectations that data due next week may show the economy shrank slightly in the second quarter.

The Federal Statistical Office said Friday that exports were 0.1% lower than in May in seasonally adjusted terms, following a steep 3.2% drop in April and a partial 1.3% recovery in May. Imports rose 0.5% on the month but were down 4.4% in year-on-year terms. Month-on-month export and import data were both in line with economists' expectations.

Second-quarter gross domestic product figures are due Aug. 14. Germany's economy is believed to have turned in a feeble performance from March to June after returning to growth in the winter, a forecast bolstered by recent data.

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German exports were a little lower in June than the previous month and dropped 8% in year-on-year terms, reinforcing expectations that data due next week may show the economy shrank slightly in the second quarter.The Federal Statistical Office said Friday that exports were...
APFN,EU,Germany,Economy
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2019-38-09
Friday, 09 August 2019 03:38 AM
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