German exports surged and industrial production showed big gains in May, with many of the country's manufacturers singling out China as the driver of what seems to be an ever-faster recovery of Europe's largest economy.
“We're seeing a pick-up in Chinese domestic demand,” said Hans-Jochen Beilke, head of Ebm-Papst, which makes ventilators and electric motors. “The Chinese are buying more and more fridges, dryers and cars.”
Daimler, the German carmaker, reported this week that its car sales in China reached 13,700 units last month, a 177 per cent year-on-year surge that helped lift global sales of its Mercedes and Smart brands by 13 per cent.
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