Germany’s factory orders rebounded on strong domestic and foreign demand in May as containment measures taken to curb the spread of [coronavirus][1] were relaxed, data from Destatis revealed Monday.
Factory orders advanced 10.4 percent month-on-month in May, reversing a sharp revised 26.2 percent fall posted in April. Economists had forecast a monthly growth of 15 percent.
Domestic orders increased 12.3 percent and foreign orders rose 8.8
percent in May.
Excluding major orders, industrial orders grew 8.9 percent in May.
On a yearly basis, manufacturing orders plunged 29.3 percent, slower than the 36.9 percent decrease posted in April.
Data showed that manufacturing turnover increased 10.6 percent month-on- month, in contrast to a fall of 22.4 percent in April.
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