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Bloomberg
Germany posted its biggest trade surplus in four months as exports showed a surprise gain.
The foreign trade balance stood at 21.4 billion euros ($23.6 billion) in July, up from 16.6 billion euros the previous month, according to the Federal Statistics Office. Shipments abroad rose 0.7 percent from June, defying economist estimates for a decline.
The data provide some unexpected comfort for Europe’s largest economy, which has suffered badly from indirect consequences of the US-China trade war.
Business confidence is at the weakest in more than six years, and industrial production unexpectedly dropped further in July.
“This morning’s trade data brings a very weak ray of sunshine,†wrote Carsten Brzeski, chief economist at ING Germany in Frankfurt.