Record German exports
September 8, 2014
German exports for July were up 8.5 percent year-on-year to 101 billion euros ($130.8 billion). It was the first time a single month's exports were above the 100-billion euro mark, according to Destatis, Germany's Federal Statistics Office.
Nearly 60 billion euros' worth of goods and services went to other European countries, with the automotive sector contributing a large share.
Germany's trade surplus set a new record as well, hitting 23.4 billion euros. The statisticians say a later start date for summer holidays this year may have contributed to the record figures.
The strong export numbers came on the heels of disappointing GDP figures last week. Growth in Europe's biggest economy fell by 0.2 percent in the second quarter, compared to the previous quarter. Both industrial production and factory orders, however, showed a rise in the last two months, leading many economists to suggest that the dent in growth may turn out to have been just a blip.
ng/nz (Reuters, AP, dpa)