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Sudden dive in German exports affects trade surplus
In October, German exports edged down suddenly, while vibrant domestic demand backed imports, narrowing its trade surplus and also contributing to evidence that Europe's number one economy began the fourth quarter on rather a weak footing, as data disclosed on Friday.
The German economy, supposed to ascend by more than 2% in 2017 is facing a consumer-led upswing, powered by record-high employment, soaring real wages, modest inflation as well as ultra-low borrowing costs.
Besides this, seasonally adjusted exports slumped by 0.4% on the month, while imports rallied by 1.8%, according to the Federal Statistics Office. The exports figure ruined hopes for a 1% ascend, while imports surpassed an estimate for a 1.1% leap.
A breakdown of unadjusted figures demonstrated that German imports from other EU members added by approximately 10.1%, while those from countries outside the EU inched up by 4.8%.
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