German exports in steepest fall since 2009 while French sentiment takes hit

Frankfurt

GERMAN exports slumped the most since the height of the 2009 recession in a sign that Europe's largest economy is feeling the pain of weakening global trade.

Foreign sales declined 5.2 per cent in August from the previous month, the Federal Statistics Office in Wiesbaden said on Thursday. That's the steepest drop since January 2009 and compares with a median estimate in a Bloomberg survey for a fall of 0.9 per cent. Imports slid 3.1 per cent. In a further sign of euro-area strain, French business confidence unexpectedly worsened.