Germany’s engineering orders rose for the third straight month in April on strong domestic demand that bolstered factory orders amid political and economic uncertainty over the Euro area.
Engineering orders in Eurozone’s largest economy rose by three percent in April in real terms from the previous year, the VDMA engineering industry association said on Wednesday.
“The expansion was largely driven by demand for large-scale equipments,” said Ralph Wiechers, Economist, VDMA.
Meanwhile, in the less volatile three-month period, orders increased by 10 percent in real terms y/y between February and April, with foreign demand up 12 percent and domestic demand up six percent.
The material has been provided by InstaForex Company – www.instaforex.com