Germany's imports and exports grew in October but industrial production lost further momentum, reports showed Monday, raising concern over the strength of Europe's largest economy.
The production of big-ticket items dropped a second month in a row in October, by 1.2% when adjusted for seasonal and calendar differences, the Economy Ministry said. That followed a 0.7% drop in September.
Last week, the ministry reported industrial orders dropped an unexpectedly sharp 2.2% in October compared with the previous month.
Meanwhile, the foreign trade surplus narrowed to 16.8 billion euros ($23 billion U.S.) in October, from 18.8 billion euros a month earlier, the Federal Statistical Office said.
The drop was mainly due to a rise imports — a sign of domestic demand — rather than a drop in exports.
Exports were up 0.2% from September in seasonally and calendar-adjusted terms, at 92.9 billion euros. Economists had predicted a 0.5% decline. Imports rose 2.9% to 76.1 billion euros after falling the previous month.
Critics argue that Germany's large trade surplus has been causing problems for struggling partners in the 17-nation euro-zone. The United States recently urged Germany to push for more domestic-led growth.
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