German exports down 2.4 percent in May

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BERLIN (AP) German exports dropped significantly in May following two months of increases, adding to mixed signals about the strength of Europe s biggest economy.
The Federal Statistical Office said Monday that exports were down 2.4 percent in calendar-adjusted terms compared with the previous month at 90.4 billion euros ($116 billion).
In year-on-year terms, exports were down 4.8 percent led lower by a 9.6 drop in demand from other countries in the eurozone.
Germany has Europe s biggest economy and so far has weathered the continent s debt crisis relatively well helped by its traditional export strength and a robust job market that is fueling domestic demand.
The economy returned to modest growth in the first quarter after contracting during last year s final three months, and is expected to pick up further.182232_59844500

2013-07-08

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