German exports and imports bounced back in September after plunging in August, but failed to allay concerns that a slowdown in emerging markets will leave its mark on Europe's largest economy.
Germany's Federal Statistics Office said today that exports pushed up 2.6% in September and imports rebounded by 3.6%. In August, exports had plummeted 5.2% and imports slumped 3.2%, partly due to seasonal effects.
The data nudged the trade surplus for September down to €19.4 billion, reinforcing expectations that growth will slow slightly when third quarter gross domestic product data is published on Friday.
Strong demand from the US and a modest recovery in the euro zone has helped cushion the blow to trade.
And robust private consumption, supported by strong wage gains and low unemployment, is also bolstering the German economy.
Late last month, the closely-watched Ifo business climate index showed German firms remain confident about the outlook, despite weakness is some key trading partners and the diesel emissions scandal swirling around car maker Volkswagen.
Economists polled by Reuters expect that German growth slowed to 0.3% in the third quarter from 0.4% in the second.