By Maria Martinez
(Reuters) – German exports and industrial output fell more than expected in September, showing the weakness of two of the pillars of the German economic model at the start of the fourth quarter.
Exports fell by 1.7% in September compared with the previous month, data from the federal statistics office showed on Thursday.
The result compared with a forecast 1.4% decrease in a Reuters poll.
A second presidency of Donald Trump, who has vowed a 10% tariff on imports from all countries, bodes ill for German industry and exports.
Germany would be the big loser if a Trump presidency sparked a tit-for-tat trade war between the United States and Europe, with Germany’s previously much-envied industrial strength potentially becoming an acute vulnerability.
Industrial output fell by 2.5% on the month in September, data from the federal statistics office showed.
This compared with a forecast of a 1.0% decline in a Reuters poll.
(Reporting by Tristan Veyet in Gdansk and Maria Martinez in Berlin, editing by Rachel More)
Comments