German exports rise in October, defying expectations
by The Associated Press
The unexpectedly upbeat exports report followed data last week showing that factory orders and industrial production both declined in October
BERLIN – German exports posted a second consecutive month-on-month increase in October, defying economists’ expectations of a slight decline.
The Federal Statistical Office said Monday that exports rose 1.2% compared with the previous month. That followed a 1.5% increase in September.
In year-on-year terms, exports were up 1.9%, led by a 4.6% rise in demand from countries outside the European Union. Exports to other EU nations rose only 0.1%.
German imports were flat compared with September and down 0.6% on the year.
The unexpectedly upbeat exports report followed data last week showing that factory orders and industrial production both declined in October. Germany only narrowly avoided entering a recession in the third quarter.