Germany industrial orders rise 0.6% in May from April
05 July 2012 14:59 [Source: ICIS news]
LONDON (ICIS)--?xml:namespace>Germany’s industrial orders rose by 0.6% in May from April, with chemical producers recording increased orders from abroad, according to official data on Thursday.
The increase in May’s overall industrial orders came after a revised 1.4% decline in orders in April from March, Germany’s economics ministry said.
May’s improvement was largely due to big-ticket orders from abroad, in particular from the eurozone, the ministry said.
On a sequential two-month comparison - April-May against February-March – industrial orders were up 0.4%.
However, compared with April-May 2011, industrial orders were down 4.5% year on year.
In a related data release on Thursday, Germany’s central bank said that its index for orders in the country's chemical and pharmaceuticals industry rose to 121.4 points in May, from 118.8 in April.
The Bundesbank said the month-to-month improvement in chemical and pharmaceutical orders was driven by increased export orders, whereas domestic orders fell slightly.
Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy BlogBy: Stefan Baumgarten+1 713 525 2653
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