German exports fell unexpectedly in July but imports rose, underscoring that the domestic economy will be key for growth in Germany this year as a weak global environment makes selling goods abroad hard.
Seasonally-adjusted exports dropped by 1.1 percent on the month, data from the Federal Statistics Office showed on Friday, missing the consensus forecast in a Reuters poll for a 0.8 percent increase.
Imports, forecast to gain 0.9 percent, rose by a less-than-expected 0.5 percent but an originally reported 0.8 percent fall in June was revised to a deeper 1.0 percent drop.
via CNBC
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019