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Germany Exports Unexpectedly Decline For Second Month

German exports declined for a second straight month in August, defying expectations for an increase, preliminary data from the statsitical office Destatis showed on Tuesday.

Merchandise exports fell a calendar and seasonally-adjusted 0.1 percent from July, when they decreased 0.8 percent. Economists had expected a 0.4 percent increase.

Imports dropped 2.7 percent after a 2.8 percent rise in July. Economists were looking for a 0.1 percent gain.

The trade surplus rose to EUR 17.2 billion in August from EUR 16.5 billion in the previous month. Economists had predicted a surplus of EUR 16.2 billion.

The current account surplus was EUR 15.3 billion versus EUR 15.1 billion in July.

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