Surprisingly strong German exports ease fear about Europe’s largest economy
German exports — which have been weakening and losing their role as the country’s biggest driver of growth — have posted their biggest increase in more than six years
BERLIN — German exports rebounded more than expected in August, posting their biggest rise in more than six years and dispelling fears that Europe’s biggest economy is heading for a slowdown.Seasonally adjusted exports rose by 5.4%, their biggest rise since May 2010, data from the Federal Statistics Office showed on Monday, while imports increased by 3%.The data signals that exports, which had been weakening and losing their traditional role as the main growth driver in Germany, will contribute to an expected expansion in the third quarter.A Reuters poll had pointed to exports rising by 2.2% and imports posting a 0.7% increase.The jump in exports widened the seasonally adjusted trade surplus to €22.2bn from €19.4bn in July.The August reading was above the Reuters consensus forecast of €20bn.Reuters
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