Economic Buzz: German exports drop 0.5% in August

Germany's exports declined unexpectedly and imports dropped more than forecast in August, data from Destatis revealed on Thursday.

Exports dropped 0.5 percent in August from July, confounding expectations for an increase of 0.3 percent. This followed a decline of 0.2 percent in July.

At the same time, the decline in imports worsened to 1.3 percent from 0.7 percent.

As the imports fell more sharply, the trade surplus increased to EUR 17.2 billion from EUR 16.3 billion in July.

On a yearly basis, exports logged a decrease of 3.9 percent after rising 1.4 percent and imports rose at a slower pace of 1.0 percent following July's 4.4 percent increase.

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