German factory orders show unexpectedly strong rise in June

Business

BERLIN (AP) — German factory orders, a leading indicator of the health of Europe’s biggest economy, increased unexpectedly strongly in June thanks to demand from outside the eurozone.

The Economy Ministry said Tuesday that orders were up 2.5% compared with the previous month, when they were down 2%. Economists had expected a modest 0.4% increase. The figure for May was revised upward from the initial reading of a 2.2% drop.

Second-quarter economic growth figures are due on Aug. 14. Germany’s economy is believed to have turned in a feeble performance in the March-June period after returning to growth in the winter.

In June, orders from outside the 19-nation eurozone were up 8.6 percent compared with the previous month. Orders from within Germany and from other eurozone countries both declined slightly.

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