German Exports Fell in June
Germany's exports and imports declined in June, increasing the trade surplus in Europe's largest economy. Data from the Federal Statistical Office showed that exports from Germany declined by 2.8% in June after rising by 1.5% in May.
Import fell by 4.5%, as opposed to an increase of 1.3% in May. Economists had expected exports to drop by 0.1% in June, while imports would grow by 0.2%.
The annual growth in exports fell sharply to 0.7% from 14.1%. Similarly, imports increased by only 3.6% after a significant increase of 16.3% previously.