German Manufacturing Increased 1.2% in August

Strong foreign orders cause increase

The German manufacturing industry continued to benefit from strong foreign demand despite the rise of the euro, economists said Oct. 8. German manufacturing orders rebounded by 1.2% in August on a monthly basis following a decline of 6.1% in July, economy ministry figures showed.

Driving the August rebound was a 2.4% increase in foreign orders, despite the euro's gain in value against the dollar and yen. Orders from outside the eurozone were up by 3.5% well ahead of the 1.0% increase in orders from Germany's eurozone partners. Domestic orders edged up by just 0.1%.

But the 2.4% August increase in foreign orders followed a steep 10.8% decline in July, and surveys point to some weakness in orders in the months ahead.

Orders were up 4% on a 12-month basis in August.

Copyright Agence France-Presse, 2007

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