Germany July trade balance 9 Sept 2016
– +24.7bln prev revised down from +24.9bln
– current account balance +18.6bln vs +24.5bln exp vs 26.3bln prev
– exports SA mm -2.6% vs +0.4% exp vs +0.2% prev from +0.3%
Softer data with lower exports and imports giving justifiable concern.