German Factory Orders Show Significant Growth in March

In a promising sign of economic resilience, seasonally and price-adjusted new factory orders in Germany increased by 3.6% in March compared to the previous month, according to the Federal Statistical Office Destatis. This growth is further highlighted by a 3.8% rise compared to the same month last year.

Domestic and Foreign Orders on the Rise

The report detailed a 2.0% increase in domestic orders and a notable 4.7% jump in foreign orders. Specifically, orders from the euro area grew by 0.8%, while those from outside the Eurozone saw a 3.4% increase.

Sector-Specific Growth Highlights

Key sectors experienced remarkable growth: electrical equipment production soared by 14.5%, machinery and equipment manufacturing gained 5.3%, and the pharmaceutical industry led with a 17.3% surge. The automotive industry and other transport equipment sectors also saw increases of 2.5% and 13%, respectively.