Germany’s exports declined in January, highlighting weakening economic momentum at the start of the year in Europe’s largest economy.
According to data released on Tuesday by Germany’s statistics agency Destatis, exports of German goods dropped by 2.3% compared with the previous month. The decline was steeper than economists had anticipated, as analysts surveyed by The Wall Street Journal had forecast a smaller fall of around 2.0%.
The latest trade figures add to signs of slowing industrial activity in Germany. Earlier data published by Destatis on Monday showed that both manufacturing orders and industrial production also declined in January, pointing to continued pressure on the country’s key industrial sector.
