Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Posted By Global Banking and Finance Review

Posted on January 24, 2025

German exports, industrial production rise more than expected

By Maria Martinez

(Reuters) -German exports and industrial production rose more than expected in November, but the outlook for the euro zone's largest economy remains anything but rosy.

Exports increased by 2.1% in November compared to the previous month, data from the statistics office showed on Thursday. The result compared with a 2.0% increase forecast in a Reuters poll.

While exports to EU countries dropped by 1.7% on the month, exports to countries outside of the EU increased by 6.9%.

Exports of goods to the United States were up 14.5% compared with October and exports to the U.K. rose by 8.6%, while exports to China decreased by 4.2%, data from the statistics office showed.

Imports were down by 3.3% on a calendar and seasonally adjusted basis compared with October.

The foreign trade balance showed a surplus of 19.7 billion euros ($20.30 billion) in November, up from 13.4 billion euros in October.

Meanwhile, German industrial production rose by 1.5% in November compared to the previous month, the federal statistics office said on Thursday. Analysts polled by Reuters had predicted a 0.5% rise.

"This rebound in industrial activity unfortunately comes too late to avoid another quarter of stagnation or even contraction," said Carsten Brzeski, global head of macro at ING.

Compared with November 2023, production was 2.8% lower in November 2024 after adjustment for calendar effects.

The less volatile three-month on three-month comparison showed that production was 1.1% lower in the period from September to November than in the previous three months.

Although industrial production picked up in November, the level of output was still very low by past standards: 8% below its level before Russia's February 2022 invasion of Ukraine and 15% below an all-time high in November 2017, said Franziska Palmas, senior Europe economist at Capital Economics.

Industrial orders declined 5.4% in November from the previous month, the federal statistics office said on Wednesday, showing that demand remains weak.

"With industry facing several structural headwinds we expect the sector to continue to struggle this year," Palmas said.

($1 = 0.9706 euros)

(Reporting by Maria Martinez and Chiara Holzhaeuser, Editing by Friederike Heine and Ros Russell ([email protected];))

Recommended for you

  • Brookfield to invest 20 billion euros in AI projects in France, Tribune reports

  • Ukraine's military says it shot down 70 out of 151 drones launched by Russia overnight

  • China to roll back clean power subsidies after boom