German exports, industrial output up in April

Berlin

GERMAN exports and industrial output both rose more sharply than expected in April, getting the country off to a strong start to the second quarter. Seasonally adjusted exports jumped by 1.9 per cent on the month, data from the Federal Statistics Office showed on Monday, far outstripping the consensus forecast of analysts for a rise of 0.1 per cent.

Imports fell 1.3 per cent, countering economists' expectations for a rise of 0.5 per cent on the month and widening the trade surplus to 22.3 billion euros (S$33.7 billion). That may add fuel to the international debate over Germany's high current account surpluses. "This morning's data shows that the economy has left its industrial hibernation behind," ING economist Carsten Brzeski said, adding that the figures pointed to a good start to second quarter.