China-Germany Trade Strength Owes a Lot to Your Currency: Chart

“The German data seems closer to reality as the average euro rate against the
dollar fell 16 percent last year and as we know little about the methods used
by the Chinese to compile trade data,” said Torsten Windels, chief economist at Norddeutsche Landesbank in Hanover, Germany. Private consumption in Europe’s biggest economy, which climbed the most in 15 years in 2015 on the back of lower oil prices, also points to an increase. “Germany is seeing skid marks in foreign trade with China, but not a downright slump,” Windels said.

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