German exports slump in September
German exports fell at their fastest pace since last year in September, fuelling fears that the Eurozone crisis has finally reached the area’s largest economy.
Imports also fell, sliding 1.6 per cent in September. Exports declined 2.5 per cent over the month, and 3.4 per cent year on year.
The seasonally-adjusted trade surplus narrowed to €17bn (£13.6bn), from €18.1bn in August.
The trade figures come after a string of disappointing data from Europe’s economic powerhouse, where business sentiment has worsened, the private sector has contracted, joblessness has risen and industrial orders have fallen at their sharpest rate in a year.