German Imports Suggest Trade-Inflicted Slowdown Is Hitting Home
Bloomberg
Published Oct 10, 2019 02:56AM ET
Updated Oct 10, 2019 04:29AM ET
(Bloomberg) -- Germany’s trade-inflicted industry slump is increasingly affecting the economy at home.
Imports declined for a third month in August when compared to the previous year, according to figures from the statistics office. The drop could signal weakening domestic demand as companies respond to a deteriorating growth outlook. Factory orders also showed weakness within Germany.
The report also showed exports fell 3.9% year-on-year, after a gain of a similar magnitude the previous month.
The report is the latest in a string of disappointing data highlighting the precarious situation in Europe’s largest economy. After output shrank in the second quarter and few signs of a pickup in momentum, the risk of another contraction in the July-September period is running high. That would put the country into a technical recession and further stoke concerns about the health of the euro-area economy.
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Written By: Bloomberg
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