Germany Witnesses Growth in Factory Orders
(MENAFN) Germany witnessed a notable rise in factory orders during March, with a 3.8 percent boost compared to the same month last year and a 3.6 percent improvement over February, according to data released by Destatis on Wednesday.
The federal statistics agency emphasized that "When large-scale orders are excluded, new orders were 3.2% higher than in the previous month," underlining a broader positive trend even without major contracts skewing the numbers.
Several industrial sectors played a role in this upward movement, but the production of electrical equipment stood out, showing a remarkable monthly jump of 14.5 percent, contributing significantly to the overall increase.
Orders for capital goods climbed by 3.7 percent from February to March.
Meanwhile, demand also rose in the intermediate goods category by 2.5 percent, and in the consumer goods segment, orders surged by 8.7 percent, reflecting broader economic momentum.
International demand helped drive the growth, with foreign orders increasing by 4.7 percent.
Within that, new business from eurozone countries expanded by 8 percent, while orders from countries outside the euro area advanced by 2.8 percent.
At the same time, domestic demand grew by 2 percent.
In contrast, the month prior saw factory orders remain steady compared to January but showed a slight annual decline of 0.2 percent.
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