German Exports Rebounded Less Than Expected

German exports rebounded less than expected in May, as data released on Thursday showed; demand remained weak despite the easing of lockdown measures that had been imposed to contain the spread of the virus.

The Federal Statistical Office said that seasonally adjusted exports increased by 9% on a monthly basis after falling by 24% in April and less than 27%, the level it was before the crisis in February.

As for imports, they increased by 3.5% after falling by 16.6% last month, indicating that consumption in Germany remained weak, trade surplus rose to 7.6 billion euros.

Economists polled by Reuters had expected exports to rise by 13.8% and imports by 12%. The trade surplus to come in at 5.2B euros.