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German Exports Slump Most Since 2009

German exports slumped the most since January 2009 in the latest sign Europe’s largest economy is struggling to rebound from its second-quarter contraction.

Exports dropped 5.8 percent in August, after a 4.8 percent increase in July, the Federal Statistics Office in Wiesbaden said today. Economists surveyed by Bloomberg News predicted a decline of 4 percent.

While the typically volatile data was influenced by the timing of German school holidays in late summer, it still depicts an economy that is stumbling as the euro-area recovery grinds to a halt. The European Central Bank has added unprecedented stimulus to try to revive inflation and economic growth in the 18-nation currency bloc.

Bloomberg [1]

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