German exports and imports surge hailed as good news for Europe
The most recent industry figures show Germany – Europe’s biggest economy – began the entire year on a powerful footing and is on course to robust growth.
Imports and exports increased in January.
Imports jumped with a quite strong 4.1 percent, jumping back from December’s 1.4 drop.
Exports increased 2.2 percent following a 0.9 percent decrease in December.
Curiously, year-on-year, exports for the remaining eurozone rose 3.2 percent, however the greatest rise – 9.1 percent – was shipments to European countries away from currency bloc.
Only shipments to countries beyond Europe dropped.
David Ashley, senior European Economist with RBC Capital Markets said: “You want to see stronger German usage, to the flipside of that you want to see stronger exports and investment in the kind of state Spain. however for Europe away from euro area, I believe it’s totally good that Germany is experiencing strong move growth.”
Showing strong German demand, imports in to the region were best from the eurozone that ought to supporting the region’s recovery from recession.
Confidence among German consumers, traders and companies has hit multi-year highs recently.