German Factory Orders Surge as Economy Sustains Strong Momentum
- Demand up 3.6% in August vs economists estimate of 0.7% gain
- Economy Ministry sees solid manufacturing recovery continuing
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German factory orders rebounded in August in a sign that Europe’s largest economy is set to sustain its robust pace of growth.
Orders, adjusted for seasonal swings and inflation, rose 3.6 percent in August after a revised decline of 0.4 percent in July, data from the Economy Ministry in Berlin showed on Friday. That’s the biggest increase since December. The typically volatile reading compares with a median estimate for a 0.7 percent gain in a Bloomberg survey. Demand was up 7.8 percent from the previous year.