German Factory Orders Surge as Domestic Demand Rebounds
- Orders were up 1% from prior month vs. estimated 0.3% increase
- Economy Ministry sees slight revival in months ahead
German factory orders jumped more than economists expected in August.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
German factory orders jumped more than economists expected in August on broad-based domestic demand, according to figures released by the Economy Ministry in Berlin.
The report comes after German business sentiment surged to the highest level in more than two years in September, a sign that corporate concerns over the consequences of Britain’s decision to leave the European Union are easing. Still, the number of Germans unemployed unexpectedly rose last month for the first time in more than a year, and the Bundesbank toned down its outlook, pointing to slower growth in the third quarter.