German Exports Surge to Record Level in June, Outlook Still Gloomy

German Exports Surge to Record Level in June, Outlook Still Gloomy
A container ship leaves the port in front of the famous landmark Philharmonic Hall in Hamburg, Germany, on March 11, 2020. Fabian Bimmer/Reuters
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BERLIN—The value of German exports jumped by 4.5 percent in June to hit a record level, though economists cautioned that much of the increase was likely due to soaring prices.

Exports rose for a third month in a row, beating forecasts for a 1 percent increase and pushing Germany’s seasonally adjusted trade surplus to 6.4 billion euros ($6.51 billion) in June, well above consensus for a 2.7 billion euro surplus.