German manufacturing orders rose in May at their strongest monthly rate in almost two years, confirming the view that Europe's largest economy may be stabilising.
Manufacturing orders were 4.4 per cent higher in May than in April, according to the German economics ministry, a jump that surprised economists, who had expected an increase of 0.5 per cent.
The jump from April marked the third straight month in which orders rose – and the biggest one-month gain since June 2007. However, order volumes were still 29.4 per cent below the level of May 2008.
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