German Trade Surplus Declines More Than Expected

RTTNews | 648 dagar sedan

(RTTNews) - Germany's trade surplus declined more than expected in July on weak exports and rising imports, exacerbating the possibility of economic contraction in the third quarter.

Exports posted a monthly decline of 0.9 percent in July, in contrast to June's 0.2 percent increase, Destatis reported Monday.

Nonetheless, the pace of decline was not as severe as economists' forecast of 1.5 percent decrease.

On the other hand, imports grew 1.4 percent, reversing a 3.2 percent drop in June. The pace of growth also exceeded expectations of 0.5 percent rise.

As a result, the trade surplus declined more-than-expected to a seasonally adjusted EUR 15.9 billion from EUR 18.7 billion in June. The expected level was EUR 18 billion. On a yearly basis, exports were down 0.9 percent, reversing last month's 1.7 percent increase. At the same time, the annual fall in imports deepened to 10.3 percent from 9.3 percent.

With last week's drop in retail sales and today's disappointing export data, the third quarter for the German economy has started on a very weak footing, suggesting that the risk of sliding back into contraction remains high, ING economist Carsten Brzeski said.

Exports of goods to the United States grew 5.2 percent on month and that to China increased 1.2 percent. By contrast, shipments to the United Kingdom dropped 3.5 percent.

Data showed that imports from China decreased 5.8 percent, while that from the US grew 6.1 percent. Imports from the UK were down 3.2 percent.

Goods exported to euro area countries climbed 1.7 percent in July and goods imported from these countries gained 5.6 percent.

Taggar: EUR

Eurozone Trade Surplus Declines To 3-Month Low

Eurozone trade surplus declined to a three month low in April as demand from the US softened following tariff hikes, official data revealed on Friday. The trade surplus declined to EUR 9.9 billion in April from EUR 37.3 billion in March, Eurostat reported. This was the lowest surplus since January. In the same period last year, the surplus totalled EUR 13.6 billion.

RTTNews | 9h 3minuter sedan

Eurozone Industrial Output Falls For First Time In Four Months

Eurozone industrial production declined for the first time in four months in April as the positive impulse from frontloading of orders from the US faded, official data revealed Friday. Industrial output registered a monthly fall of 2.4 percent in April, offsetting March's 2.4 percent increase, Eurostat said. Production was forecast to drop 1.6 percent.

RTTNews | 11h 7minuter sedan

ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

A measure, based on the collective bargaining agreements in the euro area, suggested that negotiated wage growth is set to ease significantly this year, the European Central Bank said on Wednesday, which adds to expectations of inflation staying near the 2 percent target.

RTTNews | 2 dagar sedan

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 3 dagar sedan

Eurozone GDP Growth Accelerates To 0.6%

The euro area economic growth doubled in the first quarter on household spending, investment and exports, official data revealed on Friday. Gross domestic product logged a quarterly growth of 0.6 percent in the first quarter, which was faster than the initial estimate of 0.3 percent, Eurostat said. This followed a 0.3 percent rise in the fourth quarter of 2024.

RTTNews | 7 dagar sedan

German Industrial Output Drops; Exports Fall

German industrial production declined more than expected in April as the temporary boost from the frontloading of orders ahead of the US tariff hikes faded, data from Destatis revealed on Friday. Another data showed that Germany's trade surplus declined in April as exports to the US logged a double-digit decline amid a notable growth in imports. Industrial output declined 1.4 percent.

RTTNews | 7 dagar sedan

ECB Cuts Interest Rates By 25 Bps As Inflation Forecasts Lowered

The European Central Bank slashed its interest rates by 25 basis points on Thursday, in line with expectations, while the staff trimmed the euro area price growth projections for this year and next citing prospects of energy prices and stronger euro going forward.

RTTNews | 8 dagar sedan

German Manufacturing Orders Rise Unexpectedly

German manufacturing orders increased in April confounding fears that higher tariffs by the US administration would hit the factory sector, official data revealed Thursday. Factory orders rose 0.6 percent month-on-month in April, following a revised 3.4 percent rise in March, Destatis said. This was the second consecutive month of growth. Orders were expected to fall 1.0 percent.

RTTNews | 8 dagar sedan

EURUSD	1.15403	GBPUSD	1.35613	AUDUSD	0.649
USDJPY	143.972	USDCAD	1.35934	USDCHF	0.81158

Advertisement

German Trade Surplus Declines More Than Expected