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German factory orders in manufacturing sector increase in August

Xinhua, October 7, 2016 Adjust font size:

German factory orders in the manufacturing sector increased in August, registering the largest increase of turnover in manufacturing since 1991, official data showed on Thursday.

New orders increased by 1.0 percent in August from July, said German federal statistics office Destatis, attributing the growth mainly to domestic orders and those from the euro area.

In August, domestic orders rose by 2.6 percent, while foreign orders decreased by 0.2 percent. New orders from the euro area jumped by 4.1 percent, while new orders from other countries decreased by 2.8 percent compared to July.

In addition, the turnover in manufacturing in August increased by 4.1 percent on the previous month, which was the largest rise in 25 years.

The German economy ministry said in a statement that new orders would remain subdued during the course of the year, but there would be a slight rise toward the year's end. Endit