Germany's trade surplus narrowed in October to its lowest level in over half a year as exports posted meagre growth in the face of weakening demand from the country's recession-hit European partners. The figures added to evidence that Europe's largest economy will contract in the fourth quarter of the year amid a slowdown in foreign sales, long a driver of German growth.
Imports rose 2.5 percent in October, far stronger than a 0.3 percent increase in exports that followed a 2.4 percent decline in September, data from the Federal Statistics Office showed. Exports were still stronger in October than many economists had expected. In a Reuters poll they had forecast a 0.5 percent decline, while imports had been expected to push up by a more modest 0.3 percent. The seasonally-adjusted trade surplus shrank to 15.2 billion euros from 16.9 billion in September. It was the lowest level since March, and well below a consensus forecast for it to narrow to 16.1 billion euros.