BERLIN (Reuters) – Orders for German-made goods rose 4.5% in August, more than expected, boosting hopes for a robust third-quarter in Europe’s largest economy after the coronavirus shock.
The increases were driven by demand from the euro zone, the Federal Statistics Office said on Tuesday, suggesting companies are making good progress back to pre-crisis levels. A Reuters forecast had predicted a 2.6% gain on the previous month.
“The catch-up process for new industry orders is continuing at a remarkable pace,” the economy ministry said in a statement.
Order intake was now only 3.6% lower than in February, before lockdown measures were imposed to slow the spread of the coronavirus, the office said.
Economists applauded the strong data, but cautioned that rising infection rates across Europe were increasing the risk of setbacks.
“It is difficult to imagine how German manufacturing could escape another round of lockdown measures with important trading partners,”