BERLIN, Germany - August 9, 2011 - Germany’s robust economy is showing signs of a slowdown, raising fears that the linchpin holding together Europe’s fragile financial health could be weakening.

On Tuesday, the country revealed that its exports in June rose by only 3.1%, compared with a 20.1% increase in May, marking the smallest increase in 16 months. A few days earlier, an index of German manufacturing activity dropped from 54.6 in June to 52 in July - the lowest level since October 2009, marking the third consecutive month of declines.

“The fact that [the German economy is] showing signs of faltering and sources of domestic demand aren’t manifesting - people are worried,” said Tu Packard, a senior analyst for Moody’s Analytics.

Germany has built its economic strength on exports to China and other developing countries. As the global slowdown reduces demand in those economies, Germany could pay the price.

“They’ve managed to protect themselves so far, but what happens when the crisis hits China’s economy? China depends on the U.S.,” said Henry Farrell, a political science professor at George Washington University.