Report: German exports may flatten, according to new data
Despite data indicating German business confidence is at a peak, growth in the country's exports is set to flatten out, dpa reported according to a Saturday news report quoting a respected think tank.
The business weekly Wirtschaftswoche said its export climate indicator, a data series compiled for it by the Ifo economic research institute, had slumped in December to its lowest value for almost a whole year, the seventh straight decline.
The indicator tracks growth expectations in business. Orders from abroad have continued to increase in recent weeks at a slower pace, but export managers told Ifo that they were not expecting much more growth from that quarter.
Many said their overall confidence was because they were mainly counting on German domestic demand surging next year.
On Friday, Ifo issued its closely watched business climate index, which rose for the seventh straight month to 109.9 from 109.3 in November. The overall expectations index was also up.
Germany and France have emerged as the key driving forces behind economic growth in Europe, helping to counter weak performances by heavily indebted economies such as Portugal, Spain, Ireland and Greece.