German factory orders rose for a fourth month in the latest sign that the country’s industry-heavy economy is faring better than its services-focused peers in recovering from the pandemic.
Demand for goods from Europe’s largest economy gained 4.5%, beating economists’ estimates for a 2.8% increase. Export orders delivered a particular boost, with investment goods from the euro area up more than 20%.
“The catch-up in factory orders continues at remarkable speed,” the Economy Ministry said. “It’s supported primarily by demand from abroad,” with business confidence and declining need for state wage support also offering promising signs of recovery.
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