June data show German export growth slowing

AP News
Posted: Aug 09, 2011 5:16 AM
June data show German export growth slowing

New data show that growth of German exports _ a closely watched economic indicator _ is slowing down.

The Federal Statistical Office said Tuesday exports in June were up by 3.1 percent to euro88.3 billion ($126 billion) on the year, the smallest increase in 16 months.

It says the June uptick compares with an increase of 20.1 percent in May.

The agency says imports were up 6 percent to euro75.6 billion, the smallest increase in 15 months. Imports in May increased by 15.7 percent on the year.

Strong exports were a key driver of Germany's recovery following the 2009 recession, leading Europe's biggest economy to robust growth.