Strong German data allay growth concerns, Merkel promises tax cuts
Strong demand from euro zone countries and domestic customers drove a bigger-than-expected rise in German industrial orders in August, suggesting factories will contribute to growth in Europe's economic powerhouse in coming months.
The surprisingly strong data, published by the Economy Ministry on Thursday, gave some relief after a batch of weak figures in July had raised concern that the German economy could be heading towards a sharp slowdown in the second half.
"Finally good news from industrial orders," VP Bank analyst Thomas Gitzel said, adding that continued strong demand... read more
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