German imports and exports likely to have grown in June

Germany’s imports and exports are likely to have risen in June. According to a Societe Generale research report, exports are expected to have grown 0.7 percent month-on-month in June, whereas imports are likely to have grown 0.8 percent on sequential basis. The headwinds from foreign demand seemed to have slowed and even turned.

The moderation of headwinds appears to provide a solid bounce in next exports’ contribution to the second quarter’s growth. Nonetheless, German exports’ outlook is expected to be impacted from the Brexit uncertainty for the remainder of this year.

“The trade surplus is expected to rise to €24.6bn in June, after €21bn in May”, added Societe Generale.