German export slowly restores, still far from the pre-COVID times

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German industrial production and exports continued to increase in June compared to the previous month. This is how the recovery started earlier continues. Previously there was an unprecedented contraction, as a result of coronam measures leading to factory closures and a significant decline in World Trade.

In June, according to new figures from the German statistical office, industrial production rose by 8.9 per cent compared to May. Compared to the same month a year earlier, there was still a strong contraction, with 11.7%. Economists had more or less anticipated this development. For industry in general, they assumed a plus of 8.2 per cent on a monthly basis and a contraction of 11.4 per cent on an annual basis.

German exports improved by 14.9% in June. That’s a little stronger than expected. Here, experts estimated an increase of 14.4 per cent on average.

About the author

Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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