Strong demand saw German manufacturing orders rise at their fastest pace in two years in June, in a sign the industrial sector in Europe’s largest economy is staging a recovery.
Adjusted for seasonal swings, orders rose 4.5 per cent in June, the biggest gain since June 2007 and the fourth consecutive monthly rise, the Economy Ministry said on Thursday.
A poll of economists carried out by news agency Reuters had pointed to a 0.8 per cent rise.
The ministry said foreign orders rose sharply, especially euro zone orders which surged 13.2 per cent. Orders for intermediate and capital goods gained strongly, while demand for consumer goods fell slightly.