German Exports Boosted By Better Global Trade

May 9, 2017 Share Print 0

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.

Bloomberg

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Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.