German exports increased

Contrary to expectations, the value of Germany’s exports did not fall but increased in July, with a stable third-quarter launch indicating that the largest economy in the euro area could offset some of the negative effects of trade disputes and uncertainties surrounding UK membership.

According to preliminary data released by the German Statistical Office (Destatis) on Monday, seasonal and calendar effect adjusted exports increased by 0.7 percent to 111.2 billion euros in July. Analysts expected a 0.3 percent decline after a 0.1 percent decline in June. (MTI)