Latest data released by Destatis - 9 January 2020
- Prior €21.5 billion; revised to €21.3 billion
- Current account balance €24.9 billion vs €23.8 billion expected
- Prior €22.7 billion
- Exports -2.3% vs -0.9% m/m expected
- Prior +1.2%; revised to +1.5%
- Imports -0.5% vs +0.1% m/m expected
- Prior 0.0%; revised to +0.5%
The German trade surplus declines as exports fell more heavily in the month of November, with imports also easing a little. Put together with the more positive showing in industrial production, it is a bit of a mixed bag in terms of releases today.
But if anything else, I reckon German policymakers and lawmakers can take more heart in the better-than-expected factory activity data. That said, it's still too early to call for any significant recovery in the manufacturing sector for now.
