Seeking Alpha

German trade surplus widens as exports recover

  • Germany's trade surplus rose to €15.6B in August from €15B in July and topped consensus of €15.1B.
  • Current account €9.4B vs €14.2B and €13.5B.
  • Exports recovered to rise 1% on month from a fall of 0.8% but came in below consensus of +1.5%.
  • Imports increased 0.4% vs +0.3% and +0.9%.
  • "Global trade remains off-color, which is putting the brakes on German exports," says Thomas Gitzel at VP Bank. "The outlook for the coming months is much more promising. Important freight indicators have risen considerably."
  • DAX -0.4%, EUR-USD -0.1% to $1.3566. (PR)
  • ETFs - Stocks: FGM, EWG, GERJ, EWGS, DBGR. Bonds: BUNL, BUNT, BUND, GGOV
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