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Germany’s exports sharply decline in August

by ChemOrbis Editorial Team -
  • 08/10/2015 (14:12)
According to data compiled by Germany’s Federal Statistics Office, the country’s exports sharply declined in August, recording the steepest decline seen since January 2009. August’s exports plunged 5.2% from a month earlier, faster than Bloomberg economists’ initial expectations which called for a decrease of 0.9%.

The latest data showed that weak economics in Germany’s main export destinations, especially in China and developing countries, hurt the country’s exports and lower exports are being taken by some analysts as a sign that the German economy may be more vulnerable than previously suspected to weakening global trade.

According to separate data, factory orders from countries outside the 19-nation euro region declined more than 13% in the July-August period.

The Economy Ministry also reported that the country’s industrial production fell at its fastest pace in a year in August, declining by 1.2% following an upwardly revised increase of 1.2% in July.
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