German exports down 2.4 percent in May

German exports down 2.4 percent in May
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Summary The economy returned to modest growth in the first quarter after contracting during last year.


BERLIN (AP) German exports dropped significantly in May following two months of increases, adding to mixed signals about the strength of Europe s biggest economy.


The Federal Statistical Office said Monday that exports were down 2.4 percent in calendar-adjusted terms compared with the previous month at 90.4 billion euros ($116 billion).


In year-on-year terms, exports were down 4.8 percent led lower by a 9.6 drop in demand from other countries in the eurozone.


Germany has Europe s biggest economy and so far has weathered the continent s debt crisis relatively well helped by its traditional export strength and a robust job market that is fueling domestic demand.


The economy returned to modest growth in the first quarter after contracting during last year s final three months, and is expected to pick up further.


 

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