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German Industrial Orders Jump on Strong Export Demand

Orders from the rest of the world jumped by 7.7%.

Industrial orders in Germany, a key indicator of the health of Europe's biggest economy, jumped in August, driven by strong overseas demand for German-made goods, data showed on October 6.

German industrial orders climbed by 3.6% in August from July, after falling by 0.4% the previous month, the federal statistics authority, Destatis, said.

While domestic demand was robust, with orders from German customers rising by 2.7%, export demand was even stronger, with overseas orders expanding by as much as 4.3 %, Destatis said.

Orders from Germany's eurozone neighbors slipped by 1%, but orders from the rest of the world jumped by 7.7%.

The performance beat analysts' expectations, adding to a picture that suggests growth in the German economy may not slow down as much as many observers expected for the second half of the year.

"The strong August figure all of a sudden made a rather weak first eight months of the year a strong year for new orders," said ING Diba bank analyst, Carsten Brzeski.

"German industry looks all set to end the year at maximum speed."

Copyright Agence France-Presse, 2017

TAGS: Trade
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