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German June exports demonstrate the sharpest dip in two years
In June, German imports descended more steeply than exports, pushing the trade balance to a 10-month maximum, as Tuesday’s data disclosed.
The data will probably spur criticism of conservative Chancellor Angela Merkel, expected to grasp a fourth term next month, for not stimulating investments enough as a way to step up imports and back other countries.
Seasonally adjusted exports went down by 2.8%, which is the steepest drop since August 2015, which concluded five consecutive months of surge. Imports slid 4.5%, which is the biggest loss since January 2009, as data from the Federal Statistics Office disclosed.
Both figures ruined hopes in a Reuters survey, which had pointed to exports sagging 0.3%, and imports ascending by 0.2%.
Financial experts consider the decline in both imports and exports to be a technical correction after five months of surge powered by firm demands for German goods from within and also outside of the euro zone.
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