Latest data released by Destatis - 7 June 2019
- Prior €22.7 billion; revised to €22.6 billion
- Current account balance €22.6 billion
- Prior €30.2 billion
- Exports -3.7% vs -0.9% m/m expected
- Prior +1.5%; revised to +1.6%
- Imports -1.3% vs -0.2% m/m expected
- Prior +0.4%; revised to +0.6%
Slight delay in the release by the source. The takeaway from the report here is that exports declined heavily on the month alongside imports and that's a sign of poor conditions again in the German economy.
On the one hand, external demand is waning due to weakening global trade conditions. On the other, domestic demand is also growing weaker and that will add to more worries in Q2.
