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German imports rise more than expected in June, exports down By Reuters

German imports rise more than expected in June, exports down By Reuters

ECONOMIC NEWS

German imports rise more than expected in June, exports down By Reuters



BERLIN (Reuters) – German imports rose more than expected while exports edged down, data showed on Friday, in a further sign that domestic demand helps Europe’s largest economy to slowly reduce its dependence on foreign demand.

The Federal Statistics Office said seasonally adjusted exports were down by 0.1 % on the month while imports increased by 0.5 %. The trade surplus stood at 18.1 billion euros after a downwardly revised 18.1 billion euros in the previous month.

A Reuters Poll of economists had pointed to a 0.1 percent drop in exports and a 0.3 increase in imports. The trade surplus was expected to come in at 18.6 billion euros.

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