Tuesday, June 08, 2010

German Economic Upswing Continues

Manufacturing orders rose an additional 2.8% in April, after rising a slightly upwardly revised 5.1% in March.

It is highly unlikely that this pace of increase will continue, and since this is a particularly cyclical sector, the general upswing will be a lot lower, but clearly the German recovery has been stronger than generally thought, something which bodes well for the rest of Europe as well.