Germany's Trade Surplus Narrowed in October
December 10 2018 - 03:08AM
Dow Jones News
By Nina Adam
FRANKFURT--Germany's trade surplus with the rest of the world
narrowed in October, as a strong rise in imports from September
outstripped a more modest gain in exports.
The Federal Statistical Office said Monday that total exports of
goods--not goods and services--rose 0.7% in October from the month
before, taking into account seasonal swings and calendar effects.
German imports of goods rose 1.3%.
As a consequence, Germany's adjusted trade surplus narrowed to
17.3 billion euros ($19.8 billion) from EUR17.7 billion in
September. The outcome fell short of a consensus forecast of
EUR18.1 billion and a surplus of EUR20.4 billion in October last
year.
Ratings company DBRS warned Monday that "Germany's
export-oriented industrial sector--well integrated into global
value chains--could disproportionately suffer from a weaker
external backdrop or new tariffs."
Nevertheless, domestic demand continues to underpin growth in
Europe's largest economy, according to DBRS.
Write to Nina Adam at nina.adam@wsj.com
(END) Dow Jones Newswires
December 10, 2018 02:53 ET (07:53 GMT)
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