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Germany: industrial orders rose +3.6%
Growth forecast raised to 1,9% in 2017 and 2% in 2018
06 October, 12:35
(ANSA) - TRIESTE - German industrial orders in August rised
more than expected on strong foreign demand, data showed on
Friday. Industrial companies registered a 3.6% increase in
orders. The reading for August was the strongest monthly
increase since December and surpassed even the most optimistic
estimate.
A data breakdown showed domestic demand rose 2.7% while foreign orders jumped 4.3%, propelled by a 7.7% increase from customers outside the euro zone. "The solid upturn in the manufacturing sector should therefore continue", the Economy ministry said.
Leading economic institutes last week raised their growth forecast for the German economy to 1.9% in 2017 and 2.0% in 2018. The German government will present its updated projections for GDP growth, employment and inflation on Wednesday.
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A data breakdown showed domestic demand rose 2.7% while foreign orders jumped 4.3%, propelled by a 7.7% increase from customers outside the euro zone. "The solid upturn in the manufacturing sector should therefore continue", the Economy ministry said.
Leading economic institutes last week raised their growth forecast for the German economy to 1.9% in 2017 and 2.0% in 2018. The German government will present its updated projections for GDP growth, employment and inflation on Wednesday.
