August 6, 2020

German industrial orders surge 27.9% in June

Berlin (AFP) – New orders for German manufacturing companies surged by 27.9 percent in June, official data showed Thursday, as a rebound which began in May accelerated following a deep slump sparked by the coronavirus pandemic.Germany’s economy ministry said the upturn in orders “took a major step forward in June” and have reached 90.7 percent of the pre-pandemic level in the fourth quarter of 2019.However, it warned that any further recovery for the export powerhouse “will be slower” because foreign orders are lagging domestic demand.Domestic new orders showed a surge of 35.3 percent In June,…


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