Economic news

German industrial contracts rise significantly in August

Germany’s new orders for industrial production rocketed in August, today’s figures indicate, reversing previous slides of the summer and confirming once again that the economy remains buoyant even though prospects for the global economy are uncertain.

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Orders after price adjustment grew 7% in August compared to the month a year back, shows the data. VDMA mostly ascribed the surge to extraordinarily high demand at home in the month.

The home orders total value leaped by 8% on an annual basis in August, surpassing the level of foreign orders, which increased a bit less – by 6%.

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