German exports rise in August, but at slower pace

139

Frankfurt am Main

German exports grew for the fourth straight month in August, official data showed Thursday, but the pace is slowing as Europe’s largest economy settles into a new economic normality after the coronavirus lockdowns of the spring. Exports grew 2.4 percent month-on-month in August, after a 4.7 percent jump in July, Federal statistics agency Destatis said in seasonally adjusted figures.
Imports grew 5.8 percent in August. Germany shipped goods abroad worth 91.2 billion Euros ($107.3 billion) and imported goods worth 78.5 billion euros. The fourth consecutive monthly rise follows a steep plunge in activity in March and April when coronavirus lockdowns brought factories and businesses to a standstill. —Agencies