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FILE PHOTO: A worker at the Volkswagen assembly line in Wolfsburg, Germany, April 27, 2020. Swen Pfoertner/Pool via REUTERS/File Photo Image used for illustrative purpose.
German manufacturers recorded a rise in orders for the first time in one-and-a-half years in April thanks to more working days and a low basis for comparison from the same period in 2023, the VDMA association reported on Monday. "We are encouraged in our assumption that order intake has bottomed out," VDMA chief economist Ralph Wiechers said in a statement. In general, orders rose by 10% in real terms year-on-year in April, while the domestic orders were up by 3%, and the foreign ones were up by 13%. APRIL CHANGE overall +10% y/y of which German +3% y/y foreign +13% y/y FEB TO APRIL -9% y/y of which German -12% y/y foreign -6% y/y (Reporting by Andrey Sychev Editing by Miranda Murray)