German's economy continues to sputter, although data from June showed a modest improvement over earlier months. Some experts claim this advance is a sign of recovery of the EU economy. It will take more than one month of data to confirm that. Other EU nations, Germany's most important trading partners, remain in recession, so pressure on the Germany economy will not wane soon.
According to the Germany's primary economic data provider:
As reported by the Federal Statistical Office (Destatis) on the basis of provisional data, the manufacturing sector saw turnover fall in real terms adjusted for seasonal fluctuations and working-day variations 0.5% in June 2013 compared with May 2013 (following a revised –0.8% in May 2013 compared with April 2013). Domestic turnover decreased by 0.3%, the business with foreign customers fell 0.7%. Sales to euro area countries were 1.0% below preceding month’s level, while sales to other countries went down 0.5%.
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In addition:
Germany exported goods to the value of 92.8 billion euros and imported goods to the value of 75.9 billion euros in June 2013. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports decreased by 2.1% and imports by 1.2% in June 2013 on June 2012.
The most important point is the, despite improvement, the numbers remain negative.
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