Following the beginning in the weakening of the Euro that started in June, German Trade surplus hit a record high in July: now we know that even Berlin needs a more accomodative monetary policy, but the whole picture seems a bit “stuck”
German trade surplus hit 22.200.000.000 € in July, a new record high for Berlin.
This follows the weakening of the Euro that started in June and, since this “devaluation” is ongoing, we expect Germany to hit new record highs in trade surplus in the following months.
But let’s take a look at the data, here is what German official data look like:
And here is what a our deeper analysis show:
Do you see the problem ? Shall we zoom in on the red area ?
You may enjoy this bonus chart:
Now you understand why we expect new record high trade surplus readings in the following months for Germany.