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Surging exports lend a fillip to flagging German economy

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By Reuters
Surging exports lend a fillip to flagging German economy
FILE PHOTO: Containers are seen at a terminal in the port of Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer   -   Copyright  Fabian Bimmer(Reuters)
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BERLIN (Reuters) – Germany’s exports rose unexpectedly in October, a morale boost for Europe’s largest economy, which has been teetering on the brink of recession over recent quarters.

According to statistics office data released on Monday, Germany exported 1.2% more in October than in the previous month on a seasonally adjusted basis, defying analysts’ predictions of a 0.7% fall.

Exports grew particularly strongly to non-European countries: while sales to European Union countries were up 0.1% compared to a year ago, the value of German goods sold to non-European countries rose by 4.6%.

At 20.6 billion euros, the seasonally adjusted trade surplus was wider than the 19 billion euros analysts had expected.

(Reporting by Thomas Escritt)