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German industrial orders rise for second straight month

Xinhua, May 8, 2017 Adjust font size:

German industrial orders rose for the second straight month in March, data from the Economy Ministry showed on Monday.

Contracts for "Made in Germany" goods climbed another 1.0 percent in the reported month, after a solid 3.5 percent in February, suggesting the Europe's largest economy is picking up speed.

"Manufacturing orders continue to be vibrant," the Economy Ministry said in a statement. "Economic conditions in manufacturing are favorable. This is also reflected by strongly improved business climate indicators."

It is reported that the rise in March was driven by foreign demand, which was up 4.8 percent, offsetting a 3.8 percent drop in domestic orders.

New orders from inside the eurozone rose by 6.8 percent on the previous month, while those from countries outside the eurozone increased 3.7 percent over February. Endit