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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (7723)	2/11/2004 5:47:45 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

German exports are brisk despite the Euro. To Asia, I would imagine. Maybe unlike the US it's more important to have the products they need, instead of just relying on the currency crutch? "Feb. 11 (Bloomberg) -- German exports rose for the fifth time in six months in December, defying the appreciation of the euro against the U.S. dollar and underpinning expectations that growth in Europe's largest economy is accelerating. Sales abroad, adjusted for seasonal swings, climbed 1.6 percent from November, the Federal Statistics Office said in Wiesbaden. Germany exported goods worth 661.6 billion euros in the whole of last year, a record. Germany is counting on exports to boost economic growth after the most job losses in a decade last year pared consumer spending. One ``must not overestimate'' the effect of the euro's 20 percent increase against the dollar on exports and the economy, Bundesbank President Ernst Welteke said Monday. ``Export growth will be the pillar of the economy this year,'' said Gunter Schall, an economist at the BDI industry association, whose 107,000 members include DaimlerChrysler AG and Siemens AG. ``The world economy is buzzing.'' The BDI expects exports to rise 5 percent this year from 2003. In November, the latest month for which detailed export data is available, sales to China rose 14 percent from a year ago and to France, Germany's biggest trading partner, 1.9 percent. Exports to the U.S. fell 14 percent."