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German imports and exports drop

Friday, June 08, 2012 - 01:00

June 8 - German imports tumbled at their fastest rate in two years in April and exports fell more than expected - in another sign that Europe's largest economy is beginning to feel the chill from the euro zone debt crisis. Hayley Platt reports

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Germany's normally robust economy has started showing signs of strain from the euro zone debt crisis. Imports fell at their fastest rate in two years in April. And export figures surprised economists, as they fell for the first time this year, slipping by 1.7 percent. Robert Halver is a Frankfurt trader. (SOUNDBITE) (English) TRADER WITH BAADER BANK, ROBERT HALVER, SAYING: "The falling crude oil prices as a weaker export data in Germany are clear indications that the European crisis is affecting the real economy, even in Germany." The drop in exports is adding to concerns that Germany won't remain immune from the troubles of the euro zone. Industrial orders fell as orders from abroad dried up and manufacturing output also fell. That will come as a blow to some struggling euro zone countries who had hoped Germany would be able to cushion the blow from the debt crisis. Hayley Platt, Reuters

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German imports and exports drop

Friday, June 08, 2012 - 01:00