Sturdy German exports back trade surplus in May

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%.


FOMC Statement

The Federal Reserve is expected to raise interest rates at least three times this year.



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