German exports rebound in July

Frankfurt am Main, Sept 9 (AFP/APP):Exports from Europe’s largest economy Germany enjoyed an unexpected rebound in July, official data showed Monday, making for a bright spot in the data amid signs of a looming recession.

Some 115.2 billion euros ($127 billion) of German goods were sold abroad in July, up 0.7 percent month-on-month and 3.8 percent year-on-year, federal statistics authority Destatis said in seasonally-adjusted figures.

Analysts surveyed by Factset had predicted a 0.8 percent month-on-month fall.

With imports down 1.5 percent month-on-month, at 93.7 billion euros, Germany’s trade surplus reached 21.4 billion euros — up from 18.1 billion in June.

A geographical breakdown showed trade both with countries that share the euro single currency and the wider European Union shrank in July, while export growth came from business with non-EU nations climbed by 9.8 percent.

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