Market Commentary and Intraday News

German Exports Increase Unexpectedly In July

285 days ago

(RTTNews) - Germany's exports and imports increased unexpectedly in July, data from Destatis revealed Friday.

Exports grew 0.5 percent month-on-month, partially offsetting June's 1.4 percent fall. Likewise, imports gained 0.9 percent after falling 2.9 percent in June.

Economists had forecast a 0.5 percent drop in exports and 0.3 percent decrease in imports.

The trade surplus fell to EUR 16.9 billion from EUR 18 billion in June. But it exceeded the consensus forecast of EUR 15.3 billion.

At the same time, the current account of the balance of payments showed a surplus of EUR 12.8 billion in July compared to EUR 8.3 billion in the prior year.

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