German trade data better than expected, but France disappoints
This morning's release of data out of the Eurozone concentrated on the trade figures from the 2 leading member states. First up was Germany, which reported a higher than expected trade surplus of Eur19.2bln, beating estimates of Eur18.1bln. Exports rose by a chunky 1.5%, far exceeding calls for a 0.4% rise, though imports were also much higher than forecast at 1.3% vs a flat reading expected.
Next came the numbers from France, but unfortunately, these missed on expectations as the -Eur5.6bln deficit was more than the anticipated -Eur4.8bln reading. Exports in September recorded a lower reading than August at Eur41.7bln vs Eur42.8bln, while imports were slightly less.