German exports plummeted 2.8% in October, chiefly due to a sharp drop in sales to the US.

German exports fell 2.8% in October, worse than the expected 2% drop, to €124.6 billion, largely due to a 14.2% decline in exports to the US. Imports dropped slightly by 0.1% to €111.2 billion, resulting in a trade surplus of €13.4 billion. The weak demand reflects a slowdown in Europe's largest economy, with a recovery forecasted for 2025.

December 13, 2024
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