- German exports recovered smartly in February, growing 1.5% on month after falling 2.1% in January and beating consensus of +1%.
- Imports increased 1.8% following a decline of 0.2% and topped forecasts of +1.2%.
- The trade surplus rose to €19.7B from €19.6B but missed predictions of €20.0B, while the current-account surplus climbed to €16.6B from €15.9B. (PR)
- Meanwhile, industrial production increased a seasonally adjusted 0.2% on month, as expected, after slipping 0.4%. On year, output dropped a non-seasonally adjusted 0.3% vs +0.9% previously.
- The figures come after data yesterday showed that factory output weakened in February, although PMI readings in March were strong.
- "We expect Germany's industrial sector to continue to grow robustly in the coming months," says ABN Amro economist Aline Schuiling. "It is supported by the weak euro, historically low interest rates and strong domestic fundamentals."
- The DAX is +0.5%, while the euro is -0.3% at $1.0746. (PR)
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