German exports fall more than expected in August
BERLIN (Reuters) — German exports fell a more-than-expected 1.2% in August from the previous month, data from the federal statistics office showed on Thursday.
The result compared with a forecast 0.4% decline in a Reuters poll.
Imports also unexpectedly fell by 0.4% on the month, the data showed. They had been forecast to increase by 0.5%.
The foreign trade balance showed a surplus of 16.6 billion euros ($17.45 billion) in August, versus an upwardly revised surplus of 17.7 billion euros the previous month.
Exports to European Union countries were down 1.5% on the month, while exports to China were up 1.2%, the office said.
The sentiment in the German export industry was markedly worse in September, an Ifo survey showed, as exports to all key regions are currently in decline.
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