BERLIN (AP) — German exports fell sharply in July, in another sign of weakness from Europe's largest economy.
The Federal Statistical Office said Friday that July exports dropped by a monthly 2.6 percent to 97.1 billion euros ($109.7 billion) in seasonally adjusted terms, while imports fell 0.7 percent to 77.7 billion euros. As a result, the trade surplus narrowed to 19.4 billion euros.
In unadjusted terms, exports were down 10 percent over July 2015.
Following a drop in industrial production reported earlier in the week, ING economist Carsten Brzeski says the data confirms "the former powerful engine of the German economy — industry — is stuttering."
He says "a further cooling of the economy in the months ahead should give more support to just-started discussions about fiscal stimulus."