German exports unexpectedly rose in May, their fourth straight monthly increase, official data shows, as Europe’s biggest economy defied headwinds from the Iran war, AFP reports.
Exports rose 0.9pc from the previous month to 137.9 billion euros ($158bn), according to preliminary data from statistics agency Destatis, driven by a rise in demand from the United States and China.
Analysts surveyed by financial data firm FactSet had expected a decline of 1pc.
It was the latest evidence that Germany’s long-struggling economy is coping with the turmoil unleashed by the US-Israeli war against Iran better than some had feared.
Figures released earlier this week showed German industrial output and orders also increased in May.