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German manufacturing orders rise in April
Last Updated: 2018-06-19 21:33 | Xinhua
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New orders in the German manufacturing industry have risen thanks to strong demand from international customers in April, preliminary figures by the Federal Statistical Office showed on Tuesday.

According to the figures, price- and seasonally-adjusted orders in the key sector of the German economy were up by 0.8 percent in April compared to March 2018. The number of incomplete domestic orders hereby fell by 0.8 percent, while the outstanding stock of foreign orders rose by 1.6 percent.

Broken down into manufacturing sub-categories, the data compiled by the Federal Statistical Office revealed monthly increases in the number of orders for both the producers of intermediate goods and capital goods by 1.8 and 1.0 percent respectively. By contrast, demand for consumer goods as measured by outstanding orders fell by 0.7 percent.

The Wiesbaden-based government agency noted that German companies in the manufacturing industry could currently keep operating at the same capacity for 5.6 months to service outstanding orders without generating any new sales from April onwards. The figure was stable after having already measured a 5.6 month "reach" of outstanding orders under this definition back in March.

Whilst only marking a relatively modest increase, the continued upward trend in total manufacturing orders comes in spite of growing concerns over a cooling of economic momentum in Germany.

Experts at the German central bank recently downgraded their growth forecast for 2018 and warned that many companies are already operating at the limits of their productive capacities. The Frankfurt-based institute pointed to domestic skilled labor shortages and external risks posed by swelling trade conflicts in particular as being responsible for the dampened outlook.

Speaking to Xinhua on Tuesday, however, Simon Junker, economic expert at the German Institute for Economic Research (DIW), highlighted that industrial growth rates would at least remain above average in the short-term thanks to an "ample order backlog."

"Today's figures on the stock of orders emphasize that industrial production can be expected to increase markedly in the coming months, sustaining the overall economic expansion" Junker explained.

(Editor:富博)

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German manufacturing orders rise in April
Source:Xinhua | 2018-06-19 21:33
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