German June Factory Orders Jump More Than Forecast
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German factory orders surged more than twice as much as economists forecast in June as the global recovery gathered strength and European companies increased investment.
Orders, adjusted for seasonal swings and inflation, rose 3.2 percent from May, when they dropped a revised 0.1 percent, the Economy Ministry in Berlin said today. Economists forecast a 1.4 percent gain after an initially reported 0.5 percent decline the previous month, according to the median of 23 estimates in a Bloomberg News survey. From a year earlier, orders climbed 24.6 percent, adjusted for working days.