Europe Posts Trade Surplus in May
Posted by WARREN MOSLER on July 17th, 2009
Both imports and exports continued to fall in May as nothing there seems to be going right.
Europe Posts Trade Surplus in May as Imports Fall
By Emma Ross-Thomas
July 17 (Bloomberg) — Europe posted a trade surplus for a second month in May as exports declined less than imports.
Shipments from the 16-nation euro area fell a seasonally adjusted 2.7 percent from April, when they dropped 0.7 percent, the European Union’s statistics office in Luxembourg said today.
Imports slipped 2.8 percent, swelling the trade surplus to 800 million euros ($1.1 billion) in May from 700 million euros.
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