German factory orders post bigger-than-forecast rise
Berlin - German factory orders rose more than forecast in August, data released Wednesday showed as a result adding to expectations that growth in Europe's biggest economy will gain ground in the runup to the end of the year.
August industrial order books grew by a price-and-seasonally adjusted 1.4 per cent, the Ministry of Economics and Technology said, with a 4.6-per-cent jump in foreign orders helping to boost the total.
Analysts had forecast a 1.1-per-cent increase in total orders in August.
Germany pulled out of recession in the second quarter to post a 0.3-per-cent growth rate in the three months to the end of June.
But underlining the volatility of the order book data, Wednesday's figures showed domestic German orders slumped by 1.9 per cent in August. (dpa)