German factory orders rise as economic recovery picks up

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German factory orders rise as economic recovery picks up

The German industries see economic recovery picking up as orders rise as orders increase.

In June, German factory orders rose, bolstering the recovery of Europe's largest economy as a lifting of Pandemic restrictions supported business activity across sectors.

Demand increased 4.1%, surpassing the median estimate in Bloomberg surveys. The gain was driven by local orders with investment goods up 14.8%.

The report shows economic momentum will pick up in the coming months, even as supply bottlenecks strain manufacturers. Rapid recoveryies around the world have led to a shortage of raw materials and other inputs as well as slower delivery times.

What Carmakers expect, involving Volkswagen AG, expect logjams to ease, it's likely to take time. In July, German confidence unexpectedly fell, signaling concern that supply disruptions and resurgent infections could derail the recovery, a separate report said last week.

The Bundesbank has said that the German economy is on the verge of regaining the ground lost during the pandemic. Industrial production probably increased 1.5% in June, according to a survey before data on Friday.