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German industrial orders rise as expected in March
May 8, 2017 / 6:20 AM / 7 months ago

German industrial orders rise as expected in March

BERLIN, May 8 (Reuters) - German industrial orders rose as expected in March, data showed on Monday, suggesting factories will contribute to overall growth in Europe’s largest economy in coming months.

Contracts for ‘Made in Germany’ goods were up by 1 percent on the month, the Economy Ministry said. That was on par with the Reuters consensus forecast and followed an upwardly revised rise of 3.5 percent in February.

A breakdown of the March data showed domestic demand fell by 3.8 percent and foreign orders were up by 4.8 percent, with bookings from euro zone countries rising by 6.8 percent.

“Activity in the industrial sector remains very lively and has increased in the last two months,” the ministry said in a statement. “The industrial sector is in a favourable economic situation.” (Reporting by Joseph Nasr; Editing by Andrea Shalal)

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