German trade surplus hits record in July

A container ship is seen docked at the port of Hamburg, northern Germany, on August 27, 2014The outlook for the German economy, Europe’s biggest, brightened on Monday when data showed the country’s trade surplus hit a new record in July on the back of booming exports. In unadjusted terms, the trade surplus jumped to a record 23.4 billion euros in July, Destatis said. A trade surplus is one of the factors of growth and wealth creation for an economy. Following better-than-expected industrial output and orders data last week, analysts said the trade figures augured well for the German economy in the third quarter.

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