German imports fell in September but exports slid even more, narrowing the trade surplus, data showed on Thursday, underscoring the impact the euro zone crisis is having on the currency bloc’s largest economy.
Imports eased 1.6 percent and exports fell 2.5 percent, the sharpest drop since December last year, data from the Federal Statistics Office showed.
The consensus forecasts in a Reuters poll of economists were for a 0.1 percent drop in imports and a 1.5 percent decrease in exports.
The seasonally-adjusted trade surplus narrowed to 17.0 billion euros ($21.7 billion) from 18.1 billion in August. The consensus forecast was for it to narrow to 16.8 billion euros.
via CNBC
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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.
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