Bulletin

German trade hits record on weak euro

Official figures from Eurostat show that economic output rose by 0.4% in both the EU and eurozone during the second quarter, although growth was held back by stagnation in France. Economies in Spain, Greece, Germany and Italy expanded respectively by 1%, 0.9%, 0.4% and 0.3%. UK output also rose 0.7% in the three month period, up from 0.4% in the first quarter, although Netherlands felt a sharp slowdown, with output rising by just 0.1%. Separate data from Germany showed exports and imports there hit a record high in July. Exports rose 2.4% to £75bn, and imports increased 2.2% to £59bn. Inside the EU, German exports rose by 6% compared with July 2014, and by 5.5% to the countries in the single currency. Its exports outside the EU surged by 6.4%.

 

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