German Industrial Orders Rise on Strong Domestic Demand

German industrial orders rose for the third consecutive month in March, supported by domestic demand, data showed, in a new indication that manufacturers in Europe’s largest economy are likely to cushion the impact of lower household spending linked to the lockdown measures.

The data published by the Federal Statistics Office, adjusted in light of seasonal factors, showed that orders for industrial goods jumped 3% during the month.

That by a large margin exceeded Reuters’ forecast of 1.7%, and came after an upwardly revised reading of 1.4% in February.