Euro-Area Exports Decline for Second Month Amid Recession

17 Dec

E.U.Exports from the 17-nation currency bloc declined a seasonally adjusted 1.4 percent from September, when they fell 1.3 percent, the European Union’s statistics office in Luxembourg said today. Imports rose 0.6 percent in October and the trade surplus narrowed to 7.9 billion euros ($10.4 billion) from a revised 11 billion euros in the previous month. Labor- cost growth accelerated to 2 percent in the third quarter from 1.9 percent in the prior three months, a separate report showed.

Exports from Germany fell 3.6 percent in October from the prior month, while imports increased 3.4 percent, today’s report showed. France and Italy reported export declines of 2.1 percent and 1.4 percent, respectively. Shipments from Spain rose 3.8 percent.

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