BERLIN – Germany’s exports rose sharply in September and factory production was also up, but experts say it may not be enough to stave off a recession.
The Federal Statistical Office reported Friday that exports rose 5.5 per cent over August, in seasonally and calendar adjusted figures, almost offsetting the 5.8 per cent drop the previous month. Imports rose 5.4 per cent, widening the trade surplus to 18.5 billion euros.
Industrial production rose 1.4 per cent over August.
Germany’s economy shrank 0.2 per cent in the second quarter and many have predicted a third-quarter drop when figures come out next week — putting the country into a technical recession.
ING economist Carsten Brzeski says now it’s “not an easy bet” but that September’s “rebound was not strong enough to take away all concerns.”