Thursday, July 10, 2014

German industrial orders recover in October

February 19. 2013 8:50PM
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(AP) Industrial orders in Germany rebounded strongly in October, growing by 3.9 percent compared with the previous month sending a hopeful signal about the strength of Europe's biggest economy.

The Economy Ministry said Thursday that the rebound in October followed a 2.4 percent decline the previous month, itself revised up significantly from the initial reading of a 3.3 percent drop.

The ministry says the rise was led by a 6.7 percent increase in orders from abroad. That included a healthy 3.5 percent rise in demand from other countries in the 17-nation eurozone, much of which is struggling economically as the region's debt crisis drags on.

Germany's own growth has slowed this year but its economy is expected to continue growing, if unspectacularly, in 2013.

Associated Press

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