Economics
China Trade Slump Signals Late 2018 Was Rough for German Economy
- Imports from Germany dropped most in almost three years
- German economic data have hinted at weak fourth quarter
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Weak data from the other side of the world are diminishing the likelihood that Germany posted a rebound at the end of 2018.
Chinese imports from Europe’s largest economy dropped an annual 15.6 percent in December, the most in almost three years, signaling that one of Germany’s main pillars of demand is weakening. China is Germany’s largest trade partner outside the euro area, and economists at Commerzbank cited stabilizing momentum in the Asian country as a key reason why they predict a growth pick-up in the currency bloc in spring.