German Exports Are Increasing
In June, Germany’s exports registered an increase of 7% compared with May. This marks the largest monthly advance in the last three years, according to data published Friday by the German federal office of statistics, reported AFP.
Recovery of exports is a good sign for the largest economy in the EU, a country that remains the largest exporter in the world, even ahead of China.
However, the trade surplus in the first half of 2009, amounting to 57.8 billion, is 44.8% lower than in the same period of 2008. Industrial production registered a slight decline of 0.1% in June, which led to the decrease over the second quarter to be only 0.8%.
From the period January to March, production had a significant decline of -18%, according to economists Jennifer McKeown at Capital Economics. Germany seems to be recovering slowly from this recession. However, there are still some risks that may arise at the end of economic recovery programs.