German trade surplus grows as exports rise and imports fall.

Germany's trade surplus rose to a seasonally adjusted €17.8B in November from €16.7B in October but missed consensus. Exports grew for the fourth month in a row, increasing 0.3% on month, while imports fell an unexpectedly sharp 1.1%. "Even if November is a bit weaker than the strong October - especially on the imports side - the data shows that the fourth quarter is picking up because of a German and global recovery."