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  • German industrial orders climbed for the third month in a row in March on resurgent domestic demand, official data showed Thursday. Orders rose 3.0 percent month-on-month in seasonally adjusted figures, federal statistics office Destatis said, beating analyst expectations. On an annual basis, new orders were up almost 28 percent. The surge was driven by renewed strong demand for factory goods in Europe's top economy, despite ongoing coronavirus shutdowns that have hammered the services sector. Domestic orders increased by nearly five percent month-on-month, while foreign orders rose 1.6 percent, Destatis said. Industrial orders are closely watched as a key indicator of future economic activity, especially in manufacturing powerhouse Germany. German industry's bulging order books confirm "a very positive outlook for Q2 growth", said ING bank economist Carsten Brzeski. "Admittedly, supply chain disruptions like the blockage of the Suez Canal or delivery problems of semiconductors have and will distort industrial activity. However, these disruptions will only delay, not derail, the catch-up of German industry," he said. mfp/lth
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  • Strong domestic demand boosts German factory orders
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