REUTERS/Phil Noble/File Photo Acquire Licensing RightsBERLIN, Sept 4 (Reuters) - German exports fell a less-than-expected 0.9% in July from a month earlier as global demand continued to falter, data from the federal statistics office showed on Monday.
"Trade is no longer the strong resilient growth driver of the German economy that it used to be, but rather a drag," said Carsten Brzeski, global head of macroeconomics at ING.
Imports rose 1.4% on the month, the data showed.
German export expectations have deteriorated slightly due to weak foreign demand, an Ifo survey showed in August.
"As long as the global economic environment remains weak, German exports will also remain depressed," said Thomas Gitzel, chief economist at VP Bank.
Persons:
Phil Noble, Carsten Brzeski, Brzeski, Bastian Hepperle, Hauck Aufhaeuser Lampe, Thomas Gitzel, Maria Martinez, Friederike Heine, Alex Richardson, Christopher Cushing
Organizations:
REUTERS, Rights, ING . Supply, European Union, VP Bank, Thomson
Locations:
Hamburg, Germany, China, Hauck