German economy stutters as exports and production drop
[ BERLIN] German exports fell sharply in November and industrial output also declined, suggesting Europe's largest economy ended 2014 on a weak note.
Seasonally-adjusted exports declined for a second consecutive month, dipping 2.1 per cent, while imports pushed up 1.5 per cent, narrowing the trade surplus to 17.7 billion euros, data from the Federal Statistics Office showed on Friday.
Economists polled by Reuters had been expecting a more modest fall in exports of 0.2 per cent.
Industrial output decreased by 0.1 per cent as construction activity weakened and energy production fell, separate data from the Economy Ministry showed. The headline figure was weaker than a consensus forecast for a 0.4 per cent increase.
The figures came after data on Thursday showed demand for German industrial goods declining, with orders plunging 2.4 per cent.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons