German exports fell in July for the first time in five months, official data showed today, adding to concerns about the strength of a recovery in Europe’s biggest economy.<\/p>\n
Exports dropped 0.8% from the previous month to \u20ac138.2 billion due to weaker demand from the euro zone and China, according to provisional data from statistics agency Destatis.<\/p>\n
Analysts surveyed by the financial data firm FactSet had been expecting a decline of just 0.5%.<\/p>\n
It comes after industrial production in July also disappointed, and will fuel worries that the turmoil unleashed by the Iran war is putting a brake on a nascent economic recovery.<\/p>\n
Exports in July were weighed down by a 9.5% drop in shipments to China and a 2.8% fall to other euro zone countries, Destatis said.<\/p>\n
But exports to the US, the top destination for German goods, jumped over 19% from a month earlier as they continue to recover from weakness triggered by President Donald Trump’s tariff blitz.<\/p>\n
Imports fell 5.7% in July to \u20ac116.9 billion from the previous month, and the trade surplus widened to \u20ac21.3 billion.<\/p>\n
The German economy had initially appeared to withstand the energy shock from the US war on Iran better than feared.<\/p>\n
After indicators earlier in the year were surprisingly strong, several think-tanks last week upgraded their growth forecasts for this year to between 1.2% and 1.4%.<\/p>\n","protected":false},"excerpt":{"rendered":"German exports fell in July for the first time in five months, official data showed today, adding to…\n","protected":false},"author":2,"featured_media":618670,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-618669","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/618669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=618669"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/618669\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/618670"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=618669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=618669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=618669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}