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Surprise Rebound In German Exports Not Enough To Calm Recession Worries

By Jyotsna V   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Germany's merchandise exports grew unexpectedly in April led by strong demand from China amid the post-pandemic re-opening, but the rebound was not strong enough to ward off the worries surrounding the biggest euro area economy that slid into a technical recession in the first quarter in the backdrop of persistently high inflation.

Exports rose 1.2 percent month-on-month, following a revised 6.0 percent fall in March, preliminary data from the statistical office Destatis showed Monday. Economists were looking for a 2.5 percent decline.

Imports, on the other hand, fell for a second month in a row, down 1.7 percent after a 5.5 percent slump in March. Economists had forecast a 1.0 percent decline.

The external trade surplus grew to EUR 18.4 billion in April from EUR 14.9 billion in March. Economists had expected a surplus of EUR 16.0 billion.

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