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German imports and export slide

German imports fell sharply for the second time in three months in June and exports also dropped.

It is a further sign the eurozone crisis is beginning to hurt the region's largest economy.

Imports slumped by a seasonally adjusted 3.0 percent from the previous month, reversing a 6.2 percent jump in May.

Exports fell 1.5 percent, again on a seasonally adjusted basis.

Shipments to eurozone countries, which make up around 40 percent of all German exports, fell by 3.0 percent year-on-year in June but exports to non-euro zone countries were up 4.8 percent, the data showed.

Last week a survey of purchasing managers showed new export orders falling for a 13th straight month amid softer demand from China and the United States.

Coming after worse-than-expected industrial orders for June, the trade data pointed to weakness in Germany. It has become Europe's growth

Added: Aug-9-2012 Occurred On: Aug-9-2012
Regional News
Tags: germany, economy, exports, imports, euro, zone, crisis, eu
Location: Germany (load item map)
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