German Factory Orders See Significant Rise in March

In a positive sign for the German economy, seasonally and price-adjusted new factory orders increased by 3.6% in March compared to the previous month, according to the Federal Statistical Office Destatis. This growth is complemented by a 3.8% rise compared to the same month in the previous year.

Domestic and Foreign Orders on the Rise

Domestic orders saw a 2.0% increase, while foreign orders experienced a more substantial jump of 4.7%. Notably, orders from the euro area grew by 0.8%, and those from outside the Eurozone increased by 3.4%.

Sector-Specific Growth Highlights

The report highlights significant growth across several sectors: electrical equipment production surged by 14.5%, machinery and equipment manufacturing by 5.3%, other transport equipment by 13%, the automotive industry by 2.5%, and the pharmaceutical industry by an impressive 17.3%.