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German exports rose again in May by 0.3%, indicating a continued recovery in Europe’s largest economy.
The German Federal Statistics Office said Thursday, July 8 that seasonally-adjusted exports rose 0.3% month-on-month, after a downwardly revised 0.2% increase in April.
Imports also rose by 3.4% month-on-month in May, topping Reuters expectations, which indicated that the rise would be about 0.4%.
A Reuters poll indicated that the increase in exports would be about 0.6%.
On the other hand, the trade surplus shrank to 12.6 billion euros, or about 14.9 billion dollars, compared to 15.6 billion euros in April.
It is reported that orders for German-made goods fell unexpectedly in May, affected by weak demand from countries outside the Eurozone and the lack of contracts for capital and intermediate goods.
