There’s a likelihood next month that Greece won’t receive up to 750 million euros, it’s expected to get under a debt relief deal with the EU concluded in 2018 because this European country has failed to complete a number of agreed reforms…
Sturdy German exports back trade surplus in May
In May, German exports inched up more strongly than expected, outpacing a solid soar in imports and also widening the trade surplus of the EU’s leading economy, as data disclosed on Monday.
The shockingly firm trade figures, published by the Federal Statistics Office, show how the German economy’s actually firing on all cylinders ahead of a September 24 federal election, where Chancellor Angela Merkel is looking for a fourth term.
Besides this the data will spur the debate about Germany's export strength after on Friday the IMF repeated its call for Berlin to step up investment as a way to stimulate imports, back the economic recovery in other countries and also cut its record trade surplus.
Seasonally adjusted exports edged up 1.4%, which is fifth consecutive monthly jump, while imports tacked on 1.2%, according to the data from the Federal Statistics Office.
Both figures surpassed expectations: A Reuters survey had pointed to exports adding 0.3% and imports growing by 0.5%.
Next month, the European Central Bank is on the verge of reassessing the outlook for bank lending next month because there’s a likelihood that EU financial institutions could tighten credit supply and drive the current economic deceleration…
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