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German exports post biggest rise in more than 6 years
October 10, 2016 / 6:10 AM / a year ago

German exports post biggest rise in more than 6 years

BERLIN, Oct 10 (Reuters) - German exports rebounded more than expected in August, posting their biggest rise in more than six years and dispelling fears that Europe’s biggest economy is heading for a slowdown.

Seasonally adjusted exports rose by 5.4 percent, their biggest rise since May 2010, data from the Federal Statistics Office showed on Monday, while imports increased by 3.0 percent.

The data signals that exports, which had been weakening and losing their traditional role as the main growth driver in Germany, will contribute to an expected expansion in the third quarter.

A Reuters poll had pointed to exports rising by 2.2 percent and imports posting a 0.7 percent increase.

The jump in exports widened the seasonally adjusted trade surplus to 22.2 billion euros ($24.87 billion) from 19.4 billion euros in July. The August reading was above the Reuters consensus forecast of 20.0 billion euros. ($1 = 0.8928 euros) (Reporting by Berlin newsroom; Writing by Joseph Nasr)

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