German Industrial Orders Rose More Than Expected in August

Data on Tuesday showed that German industrial goods orders rose 4.5% month-on-month in August, a boost to hopes that Europe’s largest economy would rebound strongly in the third quarter from the coronavirus shock.

The increase comes in comparison with Reuters’ forecast of a 2.6% rise, and indicates that the economy is making progress towards its return to pre-crisis levels.

Figures from the Federal Statistics Office revealed that domestic orders increased 1.7% on a monthly basis, while orders from abroad rose 6.5%.

The office said that the number of requests was 3.6% less than the registrant in February, before the imposition of general isolation measures to slow the spread of the Coronavirus.