German industrial orders gain momentum in October

5th December 2014, Comments 0 comments

German industrial orders, a key measure of demand for German-made goods both at home and abroad, rose strongly in October, suggesting Germany's period of economic weakness could be over, data showed Friday.

Industrial orders rose by 2.5 percent in October compared with the previous month, the economy ministry said in a statement.

In September, German factory orders had already risen by 1.1 percent.

"This was a good start to the fourth quarter. Alongside a brightening of sentiment indicators, the signals are looking increasingly positive," the ministry said.

"Even if the economic risks continue to exist, this suggests that the German economy could be gradually beginning to recover from its period of weakness."

Domestic orders jumped by 5.3 percent and export orders edged up by 0.6 percent compared with the previous month.

Orders from the eurozone rose by 0.3 percent and orders from outside the eurozone were up by 0.8 percent.

By sector, orders for semi-finished goods climbed by 2.5 percent and orders for capital goods rose by 3.0 percent, while orders for consumer goods slipped by 0.1 percent.


© 2014 AFP

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