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German orders jump 4.6 pct in July to highest in over a year
September 4, 2014 / 6:21 AM / 3 years ago

German orders jump 4.6 pct in July to highest in over a year

BERLIN, Sept 4 (Reuters) - German industrial orders rose 4.6 percent in July from the previous month to their highest level in more than a year, Economy Ministry data showed on Thursday, helped by a strong increase in contracts for capital goods and above-average big ticket items.

The reading was way over the Reuters consensus forecast for a 1.5 percent increase. The data for June was revised up to -2.7 percent from -3.2 percent previously.

“After the uncertainty caused by geopolitical developments and a weaker economy in the second quarter, the strong rise in orders is an encouraging signal for the industrial economy,” said the ministry in a statement. (Reporting by Madeline Chambers)

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