German exports down

Figures released by the federal statistics office, Destatis, showed exports from Europe's biggest economy fell by 15.8 percent in March from the same month in 2008.

Meanwhile, imports fell by 11.6 percent.

However, if seasonally adjusted, German exports were actually up by 0.7 percent more than February - the first time in six months.

Analysts greeted those results postively, but remain hesitant.

"They're pleasing results, but I have my doubts, that they will bring about large stabilisation," said Juergen Michels, from the banking group Citigroup.

"It's too early for europhia. Instead, the number of new orders in the past months have decreased. There are still going to be some reversals. But the free fall has stopped," he said.

Thorsten Pollent from Barclays described the data as "a slight glimpse of light on the horizon."

"It gives hope at least, that the downslide is at an end. That alone is a positive result," Pollent said.

Meanwhile, Germany's foreign trade balance continues to show a surplus of 11.3 billion euros (15.1 billion dollars), but that was still down from 16.8 billion in March 2008.