Germany’s April manufacturing orders expand slightly – driven by foreign demand
- Germany’s Federal Statistical Office today reported that German manufacturing orders improved by a slight margin in April.
- This is the second month in a row in which this crucial metric has posted gains, driven by an uptick in demand from foreign customers.
According to official data, foreign manufacturing orders grew 1.1% in April, while domestic orders declined by 0.8% as compared to March's figures.
The statistics indicate that orders from the euro area declined by 5.8%, while new orders from countries outside the Eurozone rose 5.7%.
Germany’s economics ministry warned that “Industrial activity is likely to remain subdued in the second quarter.” The upbeat manufacturing orders could revive Germany’s economy, which is close to a recession.