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News & Press: International Trade News

Exports help Germany avoid recession in third quarter

25 November 2019  
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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.