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German imports beat expectations in August on China bump

German imports grew by 3.4% in August, new figures show today
German imports grew by 3.4% in August, new figures show today

German imports grew more than expected in August, up 3.4%, while exports also increased slightly more than expected, rising 1.6%, according to Federal Statistical Office data today.

A Reuters poll had predicted a month-on-month rise in both exports as well as imports of 1.1%.

Most imports came from China in August, with goods to the value of £15.4 billion coming from there, an increase of 2.2% compared with the previous month.

Germany had a seasonally adjusted trade surplus of €1.2 billion, the office reported, far less than a forecast surplus of €4 billion.