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German exports and production fall in November | German exports and production fall in November |
(about 1 hour later) | |
German exports and production fell in November compared with the previous month. | German exports and production fell in November compared with the previous month. |
Exports fell 2.1% compared with October, German's Federal Statistical Office reported, while imports rose 1.5%. | Exports fell 2.1% compared with October, German's Federal Statistical Office reported, while imports rose 1.5%. |
Meanwhile, factory production fell by 0.1% from October as energy production fell and construction activity decreased. | Meanwhile, factory production fell by 0.1% from October as energy production fell and construction activity decreased. |
The latest news follows weak industrial order figures this week. | The latest news follows weak industrial order figures this week. |
"Things are certainly not rosy," said Bankhaus Lampe economist Alexander Krueger. "The geopolitical situation, especially the Russia conflict and the related economic uncertainty, is limiting growth," | "Things are certainly not rosy," said Bankhaus Lampe economist Alexander Krueger. "The geopolitical situation, especially the Russia conflict and the related economic uncertainty, is limiting growth," |
On a seasonally adjusted basis, the country's trade surplus shrank to €17.7bn (£13.9bn) in November. | On a seasonally adjusted basis, the country's trade surplus shrank to €17.7bn (£13.9bn) in November. |
Germany exported goods worth around €95.8bn and imported goods valued at €78.0bn in the month. | Germany exported goods worth around €95.8bn and imported goods valued at €78.0bn in the month. |
In December, Germany's economic affairs ministry said the country's recovery was "progressing at a slow pace." | In December, Germany's economic affairs ministry said the country's recovery was "progressing at a slow pace." |
Analysis: Andrew Walker, BBC Economics Correspondent | |
This is a disappointing batch of German data. It pours cold water on hopes that the Eurozone's traditional economic powerhouse will drag its neighbours out of the gloom in the near future. | |
The figures don't necessarily point to a renewed contraction in the German economy. But they are consistent with no significant acceleration from the feeble 0.1% growth that Germany recorded in the third quarter of last year, following a contraction of the same magnitude in the previous three months. | |
There were also declines in French and Spanish industrial production, adding another layer of gloom to the picture. | |
These figures provide a little extra support to the view that the European Central Bank will embark soon on a major programme of quantitative easing - buying financial assets notably government debt with newly created money. |
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