Exports help German factory orders to beat forecasts

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German manufacturing performed better than predicted in March, propelled by a rise in exports, new data suggest today.

New manufacturing orders rose by 1 per cent on the month, beating predictions in a Bloomberg poll for a rise of 0.7 per cent, after the previous month’s 3.5 per cent gain. On the year, orders swelled by 2.4 per cent, again above forecasts though down from February’s bumper 4.7 per cent pace.

The stats office said:

Domestic orders decreased by 3.8% while foreign orders increased by 4.8% on the previous month. New orders from the euro area were up 6.8% on the previous month, new orders from other countries increased 3.5% compared to February 2017.

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