Arab Today, arab today german industrial output falls more than forecast in july
Last Updated : GMT 21:41:21
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German industrial Output falls more than forecast In July

Arab Today, arab today

Arab Today, arab today German industrial Output falls more than forecast In July

Berlin - QNA

German exports posted a surprise fall in July, despite renewed hopes about the global economy, data released Friday showed.Monthly exports from Europe’s biggest economy slumped 1.1 % in July after rising 0.6 % in June, the statistics office said. Analysts had forecast a gain of 0.7 %.Imports climbed by 0.5 % in July, but fell short of predictions of a 0.7-per-cent increase.The country’s trade surplus narrowed to 16.1 billion euros (21.1 billion dollars) in July from a revised 17 billion euros in June, the statistics office said.In a related development, Germany’s industrial output fell more than expected in July following a sharp drop in the production of investment goods, data released Friday showed.Monthly output in Europe’s biggest economy contracted by 1.7 % in July after rising by 2 % in June, the Ministry of Economics said. Analysts had expected production would decline by 0.5 % in July.The output of investment goods, which includes equipment and machinery, dropped by 3.4 % in July, the ministry said.

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