Dax slides as German exports weaken in November

<p>The German Dax has lost ground as exports weakened in November.</p>

The Dax index in Frankfurt has retreated in trading this morning (January 8th) after official data revealed the nation's exports slipped in November.

According to the Federal Statistical Office, weakness across Europe and the eurozone led to a drop of 3.4 per cent in trade overseas, which is a key part of the region's largest economy.

Adjusted for calendar and seasonal factors, exports totalled €89.6 billion (£73 billion), while imports retreated by 3.7 per cent to €75.1 billion.

Germany's exporters predicted last month that foreign trade will reach record levels in 2013.

Growth in the nation slowed last year after a strong 2010 and 2011, but the economy is anticipated to pick up after a weak quarter four and continue growing in 2013.

At 10:35 GMT, the Dax retreated by 0.1 per cent – or 14.6 points – to an index value of 7718 points.

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