German June Factory Orders Jump More Than Economists Predict

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Or sign-in if you have an account.(Bloomberg) — German factory orders rose by more than analysts forecast, another sign that a long-awaited recovery in Europe’s biggest economy may finally be taking hold.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountDemand climbed 3.1% in June, following a downwardly revised 0.3% gain in May, the statistics office said Thursday. That marked a second monthly increase, and exceeded the highest prediction in a Bloomberg survey.Mechanical engineering products and data processing, electronic and optical equipment led the increase. The rise was due to big-ticket items, while orders excluding that category decreased. A less volatile three-month reading showed a 1.3% improvement. The result extends a run of positive German economic data of late, culminating in better-than-expected growth in the second quarter alongside an upward revision of output in the first.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againBusiness activity and confidence indicators have also come in stronger than anticipated, helped by large-scale fiscal spending and a package of reforms from the government in areas including pensions and bureaucracy. “I’m optimistic because the reforms have really surprised me,” Karsten Junius, chief economist at Bank J Safra Sarasin, said before the report. “Spending on infrastructure and defense should have a significant impact on the German economy, which is proving to be very resilient despite the war in Iran. In my opinion, a cyclical upswing over the next two years is virtually inevitable given the reforms and all that money.”Still, higher energy prices caused by the conflict in the Middle East continue to weigh on the energy-intensive economy, while record-low water levels in the Rhine river, a vital conduit for transporting goods in Western Europe, present another headwind.—With assistance from Harumi Ichikura, Joel Rinneby and Kristian Siedenburg.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.