German exports rose in December compared with November, according to official data, possibly offering some relief amid mounting concern about a slowdown in both the eurozone and its largest economy.
The Federal Statistical Office said Friday that exports increased 1.5% from the month before while imports rose 1.2%, with both figures taking into account seasonal swings and calendar effects.
The rise in German exports follows an bleak string of weak economic data--including a slump in manufacturing orders--that has fanned fears that Germany's economy is faltering. On Thursday, the European Commission lowered its GDP growth forecast for Germany to 1.1% for 2019 compared with 1.8% previously.
Compared with December 2017, exports to EU member states fell 4.6%. Shipments to the eurozone declined 4.1% and those to non-eurozone countries posted a steeper drop of 5.5%.
Germany's adjusted trade surplus--the balance of exports and imports of goods--came to 19.40 billion euros ($22.02 billion). Economists polled by the Wall Street Journal had forecast EUR18.5 billion.
Source: Marketwatch
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