Investing.com – Germany's trade surplus narrowed more-than-expected in December, as exports declined significantly, official data showed on Wednesday.
In a report, the German Federal Statistics Office said the trade surplus narrowed to EUR13.9 billion in December from EUR14.9 in November, whose figure was revised down from a surplus of EUR15.1 billion.
Economists had expected the trade surplus to narrow to EUR14.1 billion in December.
According to the data, exports fell 4.3% in December, disappointing expectations for a 1% drop, after rising by 2.6% in November.
German imports fell by 3.9%, confounding expectations for a 0.8% increase, after declining by a modest 0.2% in November.
Following the release of the data, the euro was modestly higher against the U.S. dollar, with EUR/USD easing up 0.04% to trade at 1.3262.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.5%, France’s CAC 40 futures added 0.6%, London’s FTSE 100 futures edged 0.3% higher, while Germany's DAX futures climbed 0.7%.
In a report, the German Federal Statistics Office said the trade surplus narrowed to EUR13.9 billion in December from EUR14.9 in November, whose figure was revised down from a surplus of EUR15.1 billion.
Economists had expected the trade surplus to narrow to EUR14.1 billion in December.
According to the data, exports fell 4.3% in December, disappointing expectations for a 1% drop, after rising by 2.6% in November.
German imports fell by 3.9%, confounding expectations for a 0.8% increase, after declining by a modest 0.2% in November.
Following the release of the data, the euro was modestly higher against the U.S. dollar, with EUR/USD easing up 0.04% to trade at 1.3262.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.5%, France’s CAC 40 futures added 0.6%, London’s FTSE 100 futures edged 0.3% higher, while Germany's DAX futures climbed 0.7%.