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German industrial orders jump in May, but backdrop risky

Thursday, Jul 05 2018
German industrial orders jump in May, but backdrop risky

German industrial orders bounced back in May with a stronger-than-expected jump after four consecutive monthly drops, data showed on Thursday, as demand from domestic customers and the rest of the euro zone picked up. The Federal Statistics Office said orders rose 2.6 percent after an upwardly revised drop of 1.6 percent the previous month. The latest reading beat a Reuters poll of analysts, who had predicted a 1.1 percent rise.

"The upswing is alive, but it has passed its peak," Bankhaus Lampe economist Alexander Krueger said, pointing to external risks such as protectionist moves by U.S. President Donald Trump. The Economy Ministry said industrial output was likely to rise moderately in coming months. The rise in May was mainly driven by demand from other euro zone countries and domestic clients. A breakdown of the figures showed that orders for capital goods and consumer goods jumped the most.

More in this category: « UK economic growth bounces back as services sector expands Private sector employment increased by 177,000 jobs, ADP report shows »

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