(Bloomberg) — Germany’s trade-inflicted industry slump is increasingly affecting the economy at home.
Imports declined for a third month in August when compared to the previous year, according to figures from the statistics office. The drop could signal weakening domestic demand as companies respond to a deteriorating growth outlook. Factory orders also showed weakness within Germany.
The report also showed exports fell 3.9% year-on-year, after a gain of a similar magnitude the previous month.
The report is the latest in a string of disappointing data highlighting the precarious situation in Europe’s largest economy. After output shrank in the second quarter and few signs of a pickup in momentum, the risk of another contraction in the July-September period is running high. That would put the country into a technical recession and further stoke concerns about the health of the euro-area economy.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.