“Factory orders in Germany, Europe’s largest economy, rebounded in April from a slump in the previous month, led by stronger demand for investment goods.
Orders, adjusted for seasonal swings and inflation, rose 2.8 percent from March, when they plunged a revised 2.7 percent, the Economy Ministry in Berlin said in a statement today. Economists had forecast a gain of 2 percent, according to the median of 37 estimates in a Bloomberg News survey. In the year, orders rose 10.5 percent, when adjusted for work days.
Germany’s recovery is broadening as companies boost investment and hiring to meet booming export demand from emerging Asia, even as surging energy prices are sapping households’ spending power and countries including Greece toughen austerity measures. While first-quarter growth was probably “overstated,” the economy is in a “good condition,” Bundesbank President Jens Weidmann said on May 23.”
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