Germany's Export Growth Tops Expectations
2019年11月8日 - 11:45AM
RTTF2
Germany's exports rebounded at a faster-than-expected pace in
September, despite signs of mild recession, data from Destatis
revealed Friday.
Exports grew 1.5 percent month-on-month, in contrast to August's
0.9 percent fall. Shipments were forecast to grow only 0.3
percent.
At the same time, imports growth accelerated to 1.3 percent from
0.1 percent a month ago, while economists had forecast
stagnation.
Consequently, the trade surplus increased to a seasonally
adjusted EUR 19.2 billion from EUR 18.7 billion in the previous
month.
On a yearly basis, exports and imports grew the most in four
months.
Exports gained 4.6 percent year-on-year after falling 3.6
percent in August. Imports advanced 2.3 percent, partially
offsetting the previous month's 3 percent decline.
The unadjusted trade surplus totaled EUR 21.1 billion versus EUR
18.2 billion in the same month last year.
Germany's exports to EU countries increased 5.6 percent, and
imports from those countries by 2.1 percent. Shipments to euro area
climbed 4.8 percent, while the value of the goods imported from
those countries grew only 1.4 percent.
Data showed that the current account of the balance of payments
showed a surplus of EUR 25.5 billion compared to EUR 18.9 billion
in September 2018.
Other indicators have suggested a mixed outlook for the German
exports.
Factory order data released earlier this week showed that
foreign demand increased 1.1 percent month-on-month in
September.
However, the purchasing managers' survey showed that new export
business in the private sector remained particularly weak in
October.
The German government's independent economic advisers, early
this week, slashed the growth forecast but said a severe recession
is unlikely.
Advisers lowered growth outlook for 2019 to 0.5 percent from 0.8
percent and the projection for next year to 0.9 percent from 1.7
percent.
The government also forecast 0.5 percent expansion for 2019 and
1 percent growth for 2020.
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