German imports fall sharply in October

German imports posted their steepest drop in almost two years in October after a strong rise the previous month, while exports also fell, but economists remained upbeat about the prospects for Europe's largest economy. Seasonally-adjusted data from the Federal Statistics Office showed imports declining by 3.1 per cent on the month, undershooting by far a consensus forecast for a 1.5 per cent decrease. It was the sharpest fall since November 2012. Exports also dropped by 0.5 per cent on the month, though that was a better reading than the 1.5 per cent decline that a Reuters poll had forecast.