April 9, 2018 / 6:16 AM / a year ago

German exports post biggest drop since 2015

BERLIN, April 9 (Reuters) - German exports plunged unexpectedly in February, posting their biggest monthly drop in 2-1/2 years and narrowing the trade surplus, data showed on Monday, in a further sign that growth in Europe’s biggest economy could have reached its peak.

Seasonally adjusted exports fell by 3.2 percent on the month, the steepest drop since August 2015, data from the Federal Statistics Office showed. Imports dropped by 1.3 percent.

A Reuters poll had pointed to exports edging up by 0.2 percent on the month and imports rising by 0.3 percent.

The seasonally adjusted trade surplus narrowed to 19.2 billion euros ($23.57 billion) from 21.5 billion euros in January. The February reading compared with the Reuters consensus forecast of 21.4 billion euros and marked the lowest surplus since January 2017.

Germany’s wider current account surplus, which measures the flow of goods, services and investments, edged up to 20.7 billion euros from 20.3 billion euros in January, unadjusted data showed. ($1 = 0.8147 euros) (Writing by Paul Carrel and Michael Nienaber)

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