By Joshua KirbyGermany's trade surplus expanded beyond expectations June, with weaker imports hinting at increasingly squeezed demand. Exports had been expected to rise by 0.4% after a slight fall the previous month, according to a Wall Street Journal poll of economists. The trade surplus had been expected to rise to EUR16.0 billion, but imports were weaker than forecast, slipping 3.4% from the previous month. This suggests demand is under pressure from tighter monetary policy and high inflation in the eurozone's largest economy. Outside the European Union, the United States remained the largest export market for German goods in June, followed by China and the United Kingdom, Destatis said.

Source: Wall Street Journal August 03, 2023 12:35 UTC