A weak note in a setback for the recovery in Europe’s largest economy. That’s how figures from the German Economy Ministry are being interpreted as exports fell by more than expected in June.
The data shows seasonally-adjusted exports fell by 1.0 percent on the month, while imports dropped by 0.5 percent. The net balance widened the trade surplus to a record 24 billion euros.
A weakness in construction was the main reason said the ministry.
And data from Europe’s second largest economy also showed an unexpected decline.
French industrial output fell 0.1 percent month-on-month in June, in contrast to a 0.4 percent rise in May. Economists had expected a 0.2 percent increase.
Manufacturing output also fell. It dropped 0.7 percent reversing an increase by the same percentage in the previous month.A 0.2 percent rise had been forecast.