German exports fall unexpectedly in August as US shipments drop

German exports fell 0.8% month-on-month in August amid a sharp drop in shipments to the United States, data from the Federal Statistical Office showed.

• The decline contradicted expectations of a 0.6% rise, according to a Reuters poll.
• Imports rose 0.9%, narrowing the trade surplus to €19.5 billion from €21.6 billion in July.
• Exports to the United States fell 6.3%, while shipments to Britain rose 16.7%.
• Exports to China rose 4.7%, while imports from China increased 11.0%.