German factory orders up 4.5% in August

EPA-EFE/FILIP SINGER

Seasonally and price-adjusted new factory orders in Germany rose by 4.5% in August compared to the previous month, the country's Federal Statistical Office Destatis said in a report published on Tuesday. However, new orders declined by 2.2% year-over-year.

On a monthly basis, foreign orders jumped 6.5% and domestic orders increased by 1.7% in August. Orders from the Eurozone soared 14.6% and orders from other countries were 1.5% higher than in July.

It was noted in the report that the orders of capital goods have recorded a monthly increase of 4.7%. Intermediate and consumer goods' orders grew by 4.5% and 4.2%, respectively, in August compared to the month prior.

Breaking the News / MS