Mubasher: Germany’s shipments abroad saw their largest growth in nearly two years in September, easing some of the worries of Europe’s biggest economy plunging into recession in the third quarter.

On a seasonally adjusted basis, German exports climbed by 1.5% month-on-month to EUR 114.2 billion ($126.33 billion) last September, the Federal Statistical Office (Destatis) said on Friday.

While this came well above analysts’ expectations of an uptick of 0.4%, it marked the biggest increase seen since November 2017, according to Reuters.

Germany’s export-dependent factories have been enduring a hit from a sluggish global economic growth and business uncertainties caused by a 16-month trade conflict between the US and China and the UK’s planned, but postponed departure from the European Union (EU).

German economy contracted by 0.1% in the second quarter of this year, and recent data indicated worsening conditions in the manufacturing sector, which in turn would place the nation’s economy on course to a technical recession.

German imports rose by 1.3% to EUR 93 billion last September from the preceding month.

As a result, Germany ran a trade surplus of EUR 19.2 billion during the month, compared with the upwardly revised EUR 18.7 billion in the prior month.

By 8:11 am GMT, the EUR/USD pair inched up by 0.02% to $1.1052.