German exports up but weak factory output tempers hopes
BERLIN — German exports rose for the third straight month in April but industrial production dipped again, official data showed Friday, offering mixed news for Europe’s biggest economy.
Exports grew 1.6 percent in April to reach 136.5 billion euros ($149 billion), federal statistics agency Destatis said in a statement.
The outcome was better than expected, with analysts polled by financial data firm FactSet forecasting exports rising just 1.1 percent month on month.
Demand from the EU gained 1.2 percent, while appetite from beyond the bloc rose 2.0 percent.
READ: German exports up in March but weak orders spoil part
The United States remained the biggest importer of “made in Germany” goods but bought 1.2 percent less than in March.
Britain, on the other hand, showed strong demand, with exports to the country surging by 15.4 percent.
Exports to China meanwhile rose 0.8 percent.
Germany imported 114.5 billion euros worth of products, up 2.0 percent, with its trade surplus coming in at 22.1 billion euros.
The positive showing on exports offered a glimmer of hope for Germany’s economy, whose manufacturing sector has been struggling with high inflation, costly energy, and weaker demand from key market China in recent months.
But the recovery remains fragile, with industrial production showing a 0.1 percent drop for April, after a fall of 0.4 percent in March, Destatis figures showed.
Industrial orders also fell to 0.2 percent in April, according to separate data published on Thursday.
Nevertheless, the German government in April slightly increased its growth forecast for the year to 0.3 percent, up from a previous prediction of 0.2 percent.
