German exports rise in October, defying expectations

BERLIN (AP) — German exports posted a second consecutive month-on-month increase in October, defying economists’ expectations of a slight decline.

The Federal Statistical Office said yesterday that exports rose 1.2 per cent compared with the previous month.

That followed a 1.5 per cent increase in September.

In year-on-year terms, exports were up 1.9 per cent, led by a 4.6 per cent rise in demand from countries outside the European Union (EU). Exports to other EU nations rose only 0.1 per cent. German imports were flat compared with September and down 0.6 per cent on the year.

The unexpectedly upbeat exports report followed data last week showing that factory orders and industrial production both declined in October. Germany only narrowly avoided entering a recession in the third quarter.

File photo of the central Berlin skyline. Germany recorded a second consecutive month-on-month increase in exports in October