BERLIN, Oct 8 (Reuters) - Germany's trade surplus widened in August after exports rose unexpectedly, according to data on Monday that underscored the resilience of Europe's largest and traditionally export-oriented economy despite the euro zone crisis.
Seasonally adjusted exports jumped 2.4 percent month-on-month and imports inched up just 0.3 percent, data from the Federal Statistics Office showed. The consensus forecasts in a Reuters poll of economists were for exports to slide 0.5 percent and imports to gain 0.3 percent.
The seasonally-adjusted trade surplus widened to 18.3 billion euros from a revised 16.3 billion euros in July. The consensus forecast was for it to narrow to 15.3 billion euros.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
TABLE GERMAN TRADE (ADJUSTED) AUG 12 JULY 12 AUG 11 Trade balance 18.3 16.3 13.7 Exports 95.0 92.8 90.0 Exports pct change m/m +2.4 +0.4 +3.2 Imports 76.7 76.5 76.3 Imports pct change m/m +0.3 +0.3 -0.1
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
MARKET REACTION
- For the latest forex report double click on FRX/
- For the euro's exchange rate, double click on
- For latest euro debt report double click on
ECONOMISTS' COMMENTS
ANDREAS SCHEUERLE, DEKABANK
"It is incredible how German exports are winning in such a tough environment... The strongest areas of growth recently came from Asia and Europe outside the euro zone. The data should influence Germany's economic output positively in the third quarter."
ULRIKE KASTENS, SAL OPPENHEIM
"The rise in exports is a surprise. However we see it rather as a positive one-off. The trend for the coming months points rather to a weakening. Nevertheless the increase in exports in August should have a stabilising effect on economic performance in the third quarter.
"Trade is performing more positively than thought. We do still expect a slowdown in GDP in the third quarter but thanks to foreign trade that will be modest."
BACKGROUND
* For a story on German industrial orders dropping in August, please click on
* For a story on German unemployment rising for a sixth month running in September, please click on
* For a story on Germany's services sector contracting unexpectedly in September, please click on
* For a story on Germany's manufacturing sector shrinking in September, click on
* For a story on German inflation easing in September, please click on
* For a story on the German business mood worsening for the fifth month in a row, please click on
* For a story on German consumer morale holding steady heading into October, please click on
* For a story on German analyst and investor morale picking up in September, please click on
(Reporting By Berlin Bureau)
((sarah.marsh@thomsonreuters.com)(+ 49 30 2888 5226))
Keywords: GERMANY TRADE/