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German trade surplus widens in August
October 10, 2017 / 6:13 AM / a month ago

German trade surplus widens in August

BERLIN, Oct 10 (Reuters) - German exports outpaced imports in August, widening the trade surplus and adding to evidence that Europe’s biggest economy performed strongly in the third quarter, data showed on Tuesday.

Seasonally adjusted exports rose by 3.1 percent on the month while imports were 1.2 percent up, data from the Federal Statistics Office showed. It was the strongest export growth reading in 12 months.

Both export and import growth was stronger than expected. A Reuters poll had pointed to exports rising 1.0 percent and imports jumping by 0.5 percent.

The seasonally adjusted trade surplus widened to 21.6 billion euros ($25.42 billion) from a downwardly revised 19.3 billion euros in July. The August reading was higher than the Reuters consensus forecast of 20.0 billion euros.

Germany’s wider current account surplus, which measures the flow of goods, services and investments, fell to 17.8 billion euros after an upwardly revised reading of 19.6 billion euros in July, unadjusted data showed. ($1 = 0.8497 euros) (Reporting by Joseph Nasr; Editing by Paul Carrel)

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