German exports edge up in October
Official data show that exports from Germany, Europe's biggest economy, edged higher in October following a substantial drop the previous month.
The Federal Statistical Office said Monday that exports rose 0.3 percent compared with September, following a 2.4 percent drop a month earlier. Adjusted for seasonal and calendar factors, they totaled (EURO)92.8 billion ($120 billion). Imports were up 2.5 percent at (EURO)77.6 billion.
Growth in Germany's export-heavy economy has slowed this year amid gloom in the recession-hit eurozone and beyond. However, it's expected to continue growing next year - if only at a modest pace.
Exports were 10.6 percent higher in October compared with a year earlier. A 14.6 percent increase in demand from countries outside the European Union contrasted with a 7 percent rise in exports to eurozone nations.
Jessop Community Federal Credit Union