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German Exports Rose in March

German exports picked up in March against a backdrop of heightening global trade tensions, providing some relief to concerns about the growth recovery in the eurozone’s largest economy.

The Federal Statistical Office said Friday that exports of goods rose 1.5% in March compared with February, while imports edged up 0.4%. Both measures are adjusted for seasonal swings and calendar effects.

Germany’s adjusted trade surplus–the balance of exports and imports of goods–was meanwhile 20.0 billion euros ($22.4 billion). Economists polled by The Wall Street Journal had forecast of EUR18.1 billion.

The data comes after the European Commission earlier this week slashed its GDP growth forecasts for Germany to 0.5% for 2019, in line with the German government’s own prediction. The commission noted in its spring report that the German economy’s openness and industrial structure mean it has been disproportionately hit by the slump in global manufacturing and rising trade protectionism.
Source: Bloomberg

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