Germany: Exports bounce back in October
December 7, 2012
In October, the seasonally adjusted trade balance recorded a EUR 15.2 billion surplus compared to the previous month. The reading came in below the EUR 16.8 billion surplus recorded in September and fell short of market expectations, which had the trade surplus at EUR 15.9 billion.
Exports increased a seasonally and working-day adjusted 0.3% over the previous month, which contrasted both the 2.4% decline recorded in September and market expectations of a 0.3% decline. Imports followed suit and expanded 2.5% in October, contrasting the 1.4% contraction observed in September.
Compared to the same month the previous year, exports swung from a 3.4% drop in September to a 10.6% expansion in October. As a result, in the 12 months up to October, exports increased 5.0%, which is above the 4.4% increase observed in the same period up to September.
Author: Ricardo Aceves, Senior Economist