BERLIN, May 9: German industrial orders bounced backed in March, rising more than expected and by the steepest rate in nine months, due to strong foreign demand especially from countries outside the euro zone, data showed on Monday. Contracts for ‘Made in Germany’ goods were up 1.9 percent on the month, the biggest increase since last June, the Economy Ministry said. That compared with a Reuters consensus forecast for a rise of 0.7 percent. Domestic orders in Europe’s biggest economy fell by 1.2 percent while foreign demand rose by 4.3 percent, with orders from euro zone countries edging up by 1.1 percent and bookings from countries outside the currency bloc soaring by 6.2 percent. The data for February was revised up to a fall of 0.8 percent from a previously reported drop of 1.2 percent. For the whole first quarter, industrial orders rose by 0.5 percent on the quarter, with bookings from abroad increasing by 2.0 percent and domestic orders falling by 1.3 percent. “Overall, industrial orders had a solid start to the year,” the Economy Ministry said in a statement. “Despite the overcast foreign trade environment, German industry was able to post a noticeable increase in orders from abroad.” (AGENCIES)
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