German May exports fall more than expected

(Sharecast News) - German exports fell more than expected in May with US demand down again as the impact of potential American tariffs hit sales, according to official data published on Tuesday. Exports fell by 1.4% month on month, the federal statistics office said. Economists had expected a 0.2% decline. Imports were down 3.8%.

Exports to the US decreased by 7.7% compared with April, while exports to China fell by 2.9%.

US President Donald Trump on Monday extended a July 9 deadline for the European Union and other trading partners to reach trade deals to August 1.

Reporting by Frank Prenesti for Sharecast.com