German industrial orders rose at 4.5% in August, more than expected
BERLIN - Orders for German-made goods rose 4.5% in August, more than expected, boosting hopes for a robust third-quarter in Europe’s largest economy after the coronavirus shock.
Order intake was now only 3.6% lower than in February, before lockdown measures were imposed to slow the spread of the coronavirus, the office said. “Nevertheless, today’s industrial order data suggest that full order books - at least in the near future - could help the manufacturing sector to overtake the service sector.”
The German economy contracted by 9.7% in the second quarter as household spending, company investments and trade collapsed at the height of the pandemic.
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