Germany: Deterioration in export growth appears stopped - Rabobank

Stefan Koopman, Market Economist at Rabobank, suggests that the key message from German exports for February, published this morning, is that whilst global headwinds continue to dampen the economic recovery, the deterioration in export growth since mid-2015 appears to have been stopped in its tracks.

Key Quotes

“Exports rose 1.3% m-o-m, following a 0.5% decline in January. One caveat, though, is that the leap year has likely flattered these numbers.

Perhaps more interesting are the detailed figures for January (which are released with a one month delay). These show rising a-synchronicity, with a recovery in exports to China and Russia, but a further weakening of export growth to the US, UK and in particular to Latin America.”