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6 July, 2018 00:00 00 AM
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German industrial orders bounce back in May

AFP

Industrial orders in Germany bounced back in May after a string of setbacks, official data showed yesterday, suggesting Europe's largest economy may not face the sharp slowdown some observers feared, reports AFP from Frankfurt.

New contracts at industrial firms grew 2.6 per cent month-on-month in May, federal statistics authority Destatis said in figures adjusted for price, seasonal and calendar effects.

The performance beat expectations from analysts surveyed by data company Factset, who had forecast 1.1 per cent growth after four months of slips in a row.

Orders from within Germany grew 4.3 per cent and demand from the country's neighbours in the 19-nation eurozone added 6.7 per cent.

But contracts from the rest of the world fell by 1.3 per cent.

Meanwhile in different manufacturing sectors, consumer goods and capital goods firms saw both saw orders increase just under 5.0 per cent, while demand for producer good fell back slightly.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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