German exports edge up in October

AP News
Posted: Dec 10, 2012 2:50 AM

BERLIN (AP) — Official data show that exports from Germany, Europe's biggest economy, edged higher in October following a substantial drop the previous month.

The Federal Statistical Office said Monday that exports rose 0.3 percent compared with September, following a 2.4 percent drop a month earlier. Adjusted for seasonal and calendar factors, they totaled €92.8 billion ($120 billion). Imports were up 2.5 percent at €77.6 billion.

Growth in Germany's export-heavy economy has slowed this year amid gloom in the recession-hit eurozone and beyond. However, it's expected to continue growing next year — if only at a modest pace.

Exports were 10.6 percent higher in October compared with a year earlier. A 14.6 percent increase in demand from countries outside the European Union contrasted with a 7 percent rise in exports to eurozone nations.