German Exports Plunge 10% Overall, 14% to Non-EU Countries

by Wolf Richter
Wolf Street

Something doesn’t add up.

Germany’s export-focused economy has been showing some signs of weakness, but no signs of an outright Financial-Crisis type collapse. So this data set released today by the German Statistical Agency doesn’t match those trends, and it doesn’t fit into the scenery. It could be an outlier, a statistical quirk, something that will be adjusted out of the way later. Or it could be a very unpleasant warning sign.

The German Statistical Agency today reported that, based on preliminary data, exports in July plunged 10% compared to July last year (not seasonally adjusted), to €96.4 billion.

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