German exports fell at the highest rate for more than five years at the start of 2018, holding back growth in the largest economy in Europe.
A breakdown of first-quarter GDP data showed foreign sales fell 1 percent, the highest since 2012. Imports also declined, and net trade reduced GDP by 0.1 percentage point.
The reduction in exports could be a first sign that the appreciation of the euro in 2017 has started to leave its mark on the economy,” said an economist at ING-Diba in Frankfurt. But “strong private consumption, the pick-up of investments and low inventories still bode well for the German growth outlook.”
