German exports rose for a third month in March in a sign Europe’s largest economy is benefiting from a pickup in global trade as industrial production dropped less than economists predicted.
Exports rose 0.4 percent from February, the Federal Statistics Office said on Tuesday. While an Economy Ministry report showed industrial output dropped 0.4 percent — compared with a median estimate for a 0.7 percent drop in a Bloomberg survey — that still marked a 1.1 percent gain for the first quarter.
The data come a day after a report showed German factory orders expanded for a second month in March, bolstered by demand from the 19-nation euro area. The Bundesbank has labeled sentiment in manufacturing “extraordinarily optimistic” amid favorable export prospects, predicting an acceleration of growth in the first quarter.
Focus on Central Banks as Political Risk Fades
EUR/USD – Euro Edges Down as German Industrial Production Beats Estimate
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Craig Erlam
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