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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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