AFP, Frankfurt :
Industrial orders in Germany bounced back in May after a string of setbacks, official data showed Thursday, suggesting Europe’s largest economy may not face the sharp slowdown some observers feared.
New contracts at industrial firms grew 2.6 percent month-on-month in May, federal statistics authority Destatis said in figures adjusted for price, seasonal and calendar effects.
The performance beat expectations from analysts surveyed by data company Factset, who had forecast 1.1 percent growth after four months of slips in a row.
Orders from within Germany grew 4.3 percent and demand from the country’s neighbours in the 19-nation eurozone added 6.7 percent.
But contracts from the rest of the world fell by 1.3 percent.
Meanwhile in different manufacturing sectors, consumer goods and capital goods firms saw both saw orders increase just under 5.0 percent, while demand for producer good fell back slightly.
Industrial orders in Germany bounced back in May after a string of setbacks, official data showed Thursday, suggesting Europe’s largest economy may not face the sharp slowdown some observers feared.
New contracts at industrial firms grew 2.6 percent month-on-month in May, federal statistics authority Destatis said in figures adjusted for price, seasonal and calendar effects.
The performance beat expectations from analysts surveyed by data company Factset, who had forecast 1.1 percent growth after four months of slips in a row.
Orders from within Germany grew 4.3 percent and demand from the country’s neighbours in the 19-nation eurozone added 6.7 percent.
But contracts from the rest of the world fell by 1.3 percent.
Meanwhile in different manufacturing sectors, consumer goods and capital goods firms saw both saw orders increase just under 5.0 percent, while demand for producer good fell back slightly.
