FRANKFURT--Orders for Germany's important manufacturing sector rose by more than expected in March, building on February's strong gain and indicating a pick-up in? ?German industrial output. ?
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Manufacturing orders increased by 1.0% compared with a month earlier, taking account of seasonal swings and calendar effects, the economics ministry said Monday. The cyclical trend in the sector remains "favorable," it said.
The data add to evidence that growth in Europe's largest economy picked up speed in the first quarter. Economists polled by The Wall Street Journal forecast a rise in Germany's quarterly growth rate to 0.6% from 0.4% in the fourth quarter of 2016. Official data are released Friday.
The increase in orders was led by strong foreign demand for German manufacturing goods, particularly from other eurozone countries. Foreign orders ?jumped? 4.8% in March from a month earlier. Domestic orders, however, dropped by 3.8%.
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(END) Dow Jones Newswires
May 08, 2017 02:42 ET (06:42 GMT)