Economic news

German industrial orders rise less than expected in May

German manufacturing orders increased by 1% in May compared to the previous month and by 3.7% in annual terms, according to the data from the Economy Ministry. Experts polled by Dow Jones expected an increase of 1.9%.

According to revised data, in April, orders of German industrial enterprises fell by 2.2% compared to the previous month.

The strong dynamics of orders, as well as the excellent business climate, give a boost to our manufacturing sector, Germany's economics ministry said.

Domestic orders for products decreased by 1.9% in May compared to the previous month, while export orders rose by 3.1%.

Germany's GDP in the first quarter of 2017 grew at 0.6% pace - the highest rate of recovery for the year.

Photo: REUTERS/Ina Fassbender

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