April 5, 2013 / 10:06 AM / 5 years ago

German industry orders rise more than expected in February

BERLIN, April 5 (Reuters) - German industrial orders rose by 2.3 percent on the month in February, the Economy Ministry said on Friday, adding that the industrial sector in Europe’s largest economy was overcoming a weak phase that dragged on growth at the end of last year.

The rise in seasonally and price-adjusted order intake was the fastest since October and outpaced the consensus forecast in a Reuters poll of 34 economists for a 1.2 percent rise.

Domestic orders were up 2.2 percent, while orders from abroad increased 2.3 percent. Even orders from the euro zone, struggling through the fourth year of its debt crisis, were up, by 1.6 percent.

“With the current revival of orders, the industrial sector is increasingly overcoming its weak phase,” the Economy Ministry said in a statement.

“The main driver of this positive development is growing domestic orders from producers of capital goods.”

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