German exports rose much more than expected in October, data showed on Thursday, despite persistent supply bottlenecks in the manufacturing sector, suggesting Europe’s largest economy may be on track for a recovery.
The Federal Statistics Office said that seasonal-adjusted exports rose 4.1% month-on-month after declining in both August and September.
Imports also saw a jump that exceeded expectations, rising 5% after a 0.4% increase in the previous month Read slightly modified.
The trade surplus narrowed to 12.5 billion euros ($14.16 billion) from a revised reading of 12.9 billion euros in September.
A Reuters poll had indicated that exports increased 0.9%, imports grew 0.4%, and the trade balance reached 13.4 billion euros.
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