German Exports Rise 4.1% in October

Data on Thursday, December 9th, showed that German exports increased much more than expected in October despite persistent supply bottlenecks in the manufacturing sector, suggesting that Europe’s largest economy may be on the way to recovery.

The Federal Statistics Office said that exports, after adjusting for seasonal factors, increased by 4.1% on a monthly basis after declining in both August and September.

Imports also saw a jump that exceeded expectations, rising 5% after a 0.4% increase in the previous month, in a slightly revised reading.

The trade surplus narrowed to 12.5 billion euros, or $14.16 billion, from a revised reading of 12.9 billion euros in September.

A Reuters poll had indicated an increase in exports of 0.9%, a growth in imports of 0.4%, and a trade balance of 13.4 billion euros.