File - In this Thursday, May 16, 2019, file photo, cars for export and import are stored in front of containers at the port in Bremerhaven, Germany. In June 2019 German industrial production dropped significantly for the second time in three months. (AP Photo/Martin Meissner)

German exports a bit lower in June, add to economic clouds

August 09, 2019 - 4:50 am

BERLIN (AP) — German exports were a little lower in June than the previous month and dropped 8% in year-on-year terms, reinforcing expectations that data due next week may show Europe's biggest economy shrank slightly in the second quarter.

The Federal Statistical Office said Friday that exports were 0.1% lower than in May in seasonally adjusted terms, following a steep 3.2% drop in April and a partial 1.3% recovery in May. Imports rose 0.5% on the month. The monthly export and import data were both in line with economists' expectations.

Second-quarter gross domestic product figures are due Aug. 14. Germany's economy is believed to have turned in a feeble performance in the April-June period after returning to growth in the winter, a forecast bolstered by recent data. Economists at UniCredit bank predict a 0.1% decline in GDP compared with the previous quarter.

Foreign trade, traditionally a mainstay of the German economy, faces uncertainty caused by deepening tensions between the U.S. and China, ongoing issues between the U.S. and Europe and the prospect of Britain's exit from the European Union.

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