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Germany’s exports and imports rebound in September

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/11/2015 (13:49)
According to media reports, Germany’s exports and imports grew at a faster than anticipated rate in September. Data from Germany’s official statistics office, Destatis, showed that exports rose 2.6% on the month in September following a decrease of 5.2% in August while imports increased 3.6% from a month earlier after declining 3.2% in the previous month. Economists had expected to see gains of 2% and 1% in exports and imports, respectively.

The country’s trade surplus fell to a seasonally adjusted € 19.4 billion ($20.8 billion) in September from around €19.6 billion ($21.07 billion) in the previous year.

However, Germany’s factory orders and production declined 1.7% and 1.1%, respectively in September.
In mid-October, the German government lowered their 2015 economic growth forecast to a growth rate of 1.7% from their previous estimate of 1.8% in April. The government cited lower demand from China and other emerging markets as the main reason behind their downwardly revised growth estimates for this year. For 2016, meanwhile, Germany left their growth estimates unchanged at 1.8%.
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