Export slowdown hits Germany as EU economic heavyweights struggle | World News, The Indian Express

Export slowdown hits Germany as EU economic heavyweights struggle | World News, The Indian Express

By Reuters |Berlin |Published: August 9, 2019 5:39:21 pm

Export slowdown hits Germany as EU economic heavyweights struggle

A global growth slowdown accompanied by tariff disputes and uncertainty over Brexit has impacted growth across western Europe, but Germany's traditionally export-reliant economy - the continent's largest - has been particularly vulnerable.

The International Monetary Fund and the European Commission have long urged Germany to do more to lift domestic demand as a way to boost imports, stimulate growth elsewhere and reduce global economic imbalances.

Momentum in German exports slowed in the first half of 2019 and abruptly reversed in June, data showed on Friday, adding to signs of broad-based weakness in an economy increasingly relying on domestic demand to eke out even meagre growth.