Surprise fall in German trade

A SURPRISE fall in exports and near-zero growth in industry output in July yesterday suggested that the German industrial juggernaut may slow somewhat after building up record momentum earlier this year.

Data from the Federal Statistics Office showed exports, the main driver in Germany’s rebound, fell by 1.5 per cent from June, while imports shrank by 2.2 per cent, adjusted for seasonal swings.

Industrial output also missed forecasts, creeping up by 0.1 per cent in July compared to projections for a 1.0 per cent increase.