Exports help Germany avoid recession in third quarter

Mon 25 Nov 2019
Posted by: Sam Pileggi
Trade News

German cargo container

Strong exports, state spending and consumers helped the German economy avoid a recession in the third quarter, detailed data showed on Friday, confirming a preliminary reading of a 0.1% expansion on the quarter.

The Federal Statistics Office said exports grew 1% in the quarter and net trade contributed 0.5 percentage points to the overall economic expansion.

Europe’s biggest economy is going through a soft patch as its export-oriented manufacturers cope with trade friction, a struggling car industry and uncertainties over Britain’s planned departure from the European Union.