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Germany's Factory Orders Rebound In August

Germany's factory orders rebounded at a faster than expected pace in August, data from Destatis showed Friday.

Factory orders grew 3.6 percent month-on-month in August, reversing a revised 0.4 percent fall in July. Orders were forecast to climb 0.7 percent.

Excluding major orders in manufacturing, new orders increased 2.5 percent on month in August.

Domestic orders increased 2.7 percent and foreign orders by 4.3 percent on the previous month.

New orders from the euro area dropped 1 percent, while demand from other countries increased notably by 7.7 percent compared to July.

Data showed that manufacturing turnover increased 3.6 percent in August from July, when it dropped 0.1 percent.

by RTT Staff Writer

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