RSS Feeds

German exports drop as European demand sags

Thursday - 11/8/2012, 7:05am  ET

BERLIN (AP) -- The Federal Statistical Office says German exports dropped more than expected in September amid lower demand from the country's euro partners, many of which are mired in recession.

September exports were down a monthly 2.5 percent at EUR91.7 billion ($117 billion), when adjusted for seasonal and calendar factors. Economists had predicted a 1.5 percent decline.

The decline more than wiped out the 2.3 percent increase reported in August.

Imports fell alongside exports, dropping 1.6 percent to EUR74.9 billion

As a result, Germany still has a healthy trade surplus.

Compared to September 2011 exports fell 3.4 percent while imports dropped 3.6 percent.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.