Germany’s Exports Fall After Five Months Amid Weak Demand from China, Eurozone

Germany faces first export decline in five months, surprising market expectations today. July saw weaker demand from China and the Eurozone deeply affect export volumes.

Official Destatis figures show exports dropped by nearly one percent from June.

Analysts were expecting a much smaller decline, only half a percent predicted earlier. Exports to China dropped almost ten percent; Eurozone sales decreased by nearly three percent.

Shipments to the United States climbed more than nineteen percent as market recovered. Some economic think tanks have raised growth forecasts, but optimism faces new uncertainty.