Reuters, November 21, 2019
BERLIN (Reuters) – Germany managed to avoid a recession in the third quarter in part thanks to a surge in its exports to the United States, data made available to Reuters showed on Thursday.
German exports to the U.S. jumped by 7.6% year-on-year from July through September after a 5.3% increase in the previous three months, data compiled for Reuters from the Federal Statistics Office showed.
The detailed trade figures underline that U.S. demand for German goods remain strong, undaunted by President Donald Trump’s ‘America First’ campaign and his threats to increase import tariffs on European cars.
Exports to France rose by 3.1% year-on-year in the third quarter while sales to China nearly stagnated, the data also showed.
Germany’s export-reliant economy avoided slipping into recession in the third quarter as consumers, state spending and construction drove a 0.1% quarterly expansion. Exports also fared better than in the previous three months.
Reporting by Michael Nienaber,; Editing by Joseph Nasr