German exports fell four times more than economists forecast in December as the sovereign debt crisis damped growth across the euro region. Exports slumped 4.3 percent from November, when they rose 2.6 percent, the Federal Statistics Office in Wiesbaden said today. Economists predicted a decline of 1 percent, according to the median of 17 estimates in a Bloomberg News survey. French business confidence held near its lowest level in more than two years in January on recession concerns, the Bank of France said in another report. While the German economy, Europe's largest, probably shrank 0.25 percent in the final three months of 2011, data this year suggest it may avoid recession, which is commonly defined as two consecutive quarterly contractions. Business sentiment jumped to a five-month high in January and factory orders gained 1.7 percent in December, driven by demand from outside the 17-nation euro area.
German exports fell four times more than economists forecast in December as the sovereign debt crisis damped growth across the euro region.
Exports slumped 4.3 percent from November, when they rose 2.6 percent, the Federal Statistics Office in Wiesbaden said today. Economists predicted a decline of 1 percent, according to the median of 17 estimates in a Bloomberg News survey. French business confidence held near its lowest level in more than two years in January on recession concerns, the Bank of France said in another report.
While the German economy, Europe's largest, probably shrank 0.25 percent in the final three months of 2011, data this year suggest it may avoid recession, which is commonly defined as two consecutive quarterly contractions. Business sentiment jumped to a five-month high in January and factory orders gained 1.7 percent in December, driven by demand from outside the 17-nation euro area.
