The sluggishness of the global economy has been highlighted, with German exports rising by less than expected and leaders from across the Asia Pacific region warning that trade is weakening.
Exports from Europe’s largest economy rose 1% in August but came in short of the expected 1.5% increase.
Despite the rise, which followed an unexpected fall in July, the data from the federal statistics office showed German exports continue to be hit by weak demand from the eurozone.
Imports rose by 0.4%, widening Germany’s trade surplus to €15.6bn (£13.2bn) from €15bn in July – higher than analysts had predicted but below a surplus of €18.1bn in the same month last year.
On an annual basis, German imports were 2.2% lower than in August 2012 while exports of goods were 5.4% lower.
Meanwhile, leaders at an Asia Pacific Economic Co-operation (Apec) meeting in Bali warned global growth was too weak and trade was slowing.
“Global growth is too weak, risks remain tilted to the downside, global trade is weakening, and the economic outlook suggests growth is likely to be slower and less balanced than desired,” leaders said in a statement.
via The Guardian
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