German trade contracted sharply in May, with larger-than-forecast falls in both imports and exports adding to signs that Europe's biggest economy has lost momentum in recent months, dpa reported. While monthly exports slumped by 1.1 per cent in May amid global economic tensions, imports dived by 3.4 per cent, to record their biggest fall in about 18 months, the Federal Statistics Office reported. The May drop in imports was the biggest monthly drop since November 2012, the statistics office added, with the fall raising fresh doubts about the performance of domestic demand during the second quarter. German exports to key trading partners in the 18-member currency bloc rose 2.7 per cent in the yearly comparison between January and May. Imports from the region were up 2.6 per cent.
