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German Trade Surplus Comes in Lower Than Expected in March |
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European Economy |
Written by CEP News |
May 08 08 06:21 GMT |
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(CEP News) - On Thursday, the Federal Statistics Office announced that the German trade surplus fell to €16.7 billion in March from a prior reading of €16.9 billion. Economists had been expecting March's figure to remain unchanged from the previous month.
On the other hand, the current account surplus rose more than expected, reaching €17.2 billion, higher than both the expected reading of €16.2 billion and the previous month's figure of €16.1 billion. February's reading was revised up from €15.4 billion. The current account surplus of €17.2 billion includes the balance of services, which showed a deficit of €0.7 billion, a surplus of €5.0 billion in factor income, a current transfers deficit of €3.1 billion and a supplementary trade items deficit of €0.7 billion. While German imports increased by the expected 0.8% monthly in March following February's 0.6% contraction, exports saw a decline of 0.5% in the same period. Economists had expected exports to increase 0.5% after the previous month's 0.2%. February's reading was revised down from 0.0%. By Todd Wailoo,
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