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German exports shoot up 4.1% in October

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Economy15 minutes ago (Dec 09, 2021 07:21)

© Reuters. FILE PHOTO: Containers are seen at a terminal in the port of Hamburg, Germany November 14, 2019. REUTERS/Fabian Bimmer/File Photo GLOBAL BUSINESS WEEK AHEAD

BERLIN (Reuters) – German exports grew far more than expected in October despite persisting supply bottlenecks in manufacturing, data showed on Thursday, suggesting Europe’s biggest economy could be on its way to recovery.

Seasonally adjusted exports increased by 4.1% on the month after consecutively falling in August and September, the Federal Statistics Office said.

Imports also saw an unexpected leap, growing 5% after a slightly revised rise of 0.4% in the prior month.

The trade surplus decreased to 12.5 billion euros ($14.16 billion) from a revised 12.9 billion euros in September.

A Reuters poll had pointed to a 0.9% increase in exports and a 0.4% rise in imports, with a trade balance of 13.4 billion euros.

($1 = 0.8830 euros)

German exports shoot up 4.1% in October

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