Business News
German exports edge up in May
Jul 9, 2009, 6:44 GMT
Berlin - German exports edged up by a seasonally-adjusted 0.3 per cent in May, the country's statistics office said Thursday.
The increase helps to compensate for the hefty 5.0-per-cent drop in German exports in April and adds to signs that recession in Europe's biggest economy is starting to bottom out.
However, the May increase was less than the 1.5-per-cent rise forecasts by economists.
Many economists also believe that as the world's leading export nation, Germany could enjoy a rather speedy recovery from recession on the back of a sustained upswing in global trade.
Releasing the figures Wednesday, the statistics office said German imports fell 2.1 per cent in May, compared to a 6-per-cent fall in April. Economists had forecast a 0.8-per-cent increase in May imports.
Germany's trade surplus in May widened to 9.6 billion euros (13.4 billion dollars) from 9.4 billion euros in the previous month.
Key forward-looking economic sentiment indicators have already pointed to the slowdown in the German economy starting to bottom out with business confidence in the nation rising for the third consecutive month in June.
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