German wholesale prices fell 0.6% in November from the same period the previous year.
Similarly, today’s figures showed a drop in German exports for October, which fell by 2.8% from September, surpassing the anticipated 2% decline projected by experts.
The foreign trade balance for Germany in October revealed a surplus of €13.4 billion ($14.02 billion), a decrease from the €16.9 billion surplus in September and lower than the €18.9 billion surplus recorded in October 2023.
The detailed report highlighted that exports to European Union countries saw a reduction of 0.7% from the previous month, while exports to non-EU countries fell by 5.3%.
Despite the United States remaining the top destination for German exports, there was a notable 14.2% decrease in goods shipped to the U.S. compared with September figures.
Moreover, exports to China saw a downturn of 3.8% on a monthly basis. In contrast, exports to the United Kingdom (TADAWUL:4280) experienced an uptick, rising by 2.1% from the month prior, as stated by the statistics office.
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