German exports plunge at fastest pace since crisis
German exports plunged in August by their largest amount since the height of the global financial crisis and imports also fell sharply in the latest sign that Europe’s largest economy is feeling the pain from a slowdown in emerging markets. Data from the Federal Statistics Office showed seasonally-adjusted exports sliding by 5.2 percent to 97.7 billion euros month-on-month, the steepest drop since January 2009. Imports tumbled by 3.1 percent to 78.2 billion euros, the biggest one-month decline since November 2012. Germany’s trade surplus narrowed to 19.6 billion euros. Economists said the data appeared to have been weighed down by the large number of holidays in August this year.
Source: Latest News