German Exports and Production Fall in November

January 9, 2015 Share Print 0

German exports and production fell in November compared with the previous month.

Exports fell 2.1% compared with October, German’s Federal Statistical Office reported, while imports rose 1.5%.

Meanwhile, factory production fell by 0.1% from October as energy production fell and construction activity decreased.

The latest news follows weak industrial order figures this week.

“Things are certainly not rosy,” said Bankhaus Lampe economist Alexander Krueger. “The geopolitical situation, especially the Russia conflict and the related economic uncertainty, is limiting growth,”

On a seasonally adjusted basis, the country’s trade surplus shrank to €17.7bn (£13.9bn) in November.

Germany exported goods worth around €95.8bn and imported goods valued at €78.0bn in the month.

In December, Germany’s economic affairs ministry said the country’s recovery was “progressing at a slow pace.”

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.