BERLIN May 7 German industrial orders rose
again in March, confounding expectations for a drop after strong
demand from the euro zone provided a boost, the Economy Ministry
said on Tuesday, adding that the sector was slowly pulling out
of a weak phase.
Seasonally and price-adjusted data showed industrial orders
rising by 2.2 percent in March from the previous month, the same
as an upwardly revised increase posted in February.
Economists in a Reuters poll had expected orders to drop by
0.5 percent in March.
"The recovery is on its way. We have had two consecutive
strong increases now. Industry has left the worst behind it but
industrial production may still have shrunk in the first
quarter," said Rainer Sartoris of HSBC Trinkaus.
Foreign orders rose by 2.7 percent, with a boost from
countries in the recession-hit euro zone, where orders rose by
4.2 percent. Domestic orders picked up by 1.8 percent.
"German industry seems to be overcoming its weak phase
slowly. The significant increase in orders brings the quarter as
a whole to a slight plus of 0.4 percent," the ministry said in a
Germany's economy was long resilient to the euro zone debt
crisis, but it contracted at the end of last year. Economists,
however, expect it to avoid recession and to have returned to
weak growth in the first quarter.