German industrial orders rebound in August but outlook uncertain
© Reuters. FILE PHOTO: A steel worker of ThyssenKrupp walks in front of a blast furnace at a ThyssenKrupp steel factory in Duisburg, western Germany, November 14, 2022. REUTERS/Wolfgang Rattay/File Photo
Orders rose by 3.9% on the previous month on a seasonally and calendar adjusted basis, the federal statistics office said.The less volatile three-month on three-month comparison showed that new orders were 4.9% higher in the period from June to August than in the previous three months. In August, an increase of 37.9% on the month in the manufacture of computer, electronic and optical products drove the expansion in industrial orders. The manufacture of electronic components was largely responsible for the increase, the statistics office said.Despite the positive data in August, Germany's manufacturing sector, which accounts for about a fifth of its economy, remains mired in a downturn.
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