German Factory Orders See Significant Growth

In a promising sign of economic recovery, Germany's Federal Statistical Office Destatis reported a 3.6% increase in seasonally and price-adjusted new factory orders in March compared to the previous month. This growth is further highlighted by a 3.8% rise when compared to the same month in the previous 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, new orders from the euro area grew by 0.8%, while those from outside the Eurozone saw a 3.4% increase.

Sector-Specific Gains

Key sectors experienced substantial growth: 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%.