Posted on 06/07/2010 4:08:38 PM PDT by mainsail that
BERLIN, June 7 (Reuters) - German industrial orders jumped far more than expected in April, with suggestions of a rise in investment adding to signs Europe's largest economy is on the path to durable growth.
Demand for intermediate and capital goods pushed orders up 2.8 percent on the month, the Economy Ministry said. The gain beat the mid-range forecast in a Reuters poll of 39 economists for a 0.2-percent rise. ECONDE
Analysts said the European debt crisis had weighed on orders from the euro zone, which were down one percent, but a weaker euro was likely to bolster demand from further afield.
"Industry is recovering strongly and should be a noticeable support to growth in the second and third quarters," said Joerg Lueschow at WestLB. "It is pleasing that domestic demand has risen and that the gains are not down to special effects such as big orders from abroad."
(Excerpt) Read more at reuters.com ...
More money for paying their fair share of everyone else’s debt. I bet there’s a call now from Greece to get funding for more public employee benefits.
Hussein hates Merkel....he must be angrier at the world tonight.
“More money for paying their fair share of everyone else’s debt. I bet there’s a call now from Greece to get funding for more public employee benefits.”
Exactly, it’s not fair that Germany invests and delivers in engineering! Or that Germany makes products everyone wants to buy. Let’s go for another 2hr coffee break comrade
"The crisis in Greece has shown us the importance of good housekeeping,” Ms Merkel added. “Germany has a responsibility to set a good example.” For 2011 Germany has promised cuts of €11.2 billion, with another €2 billion having to be found to prop up the state health insurance fund. By 2013 the cuts will reach €23.7 billion.
“Over the last years we have lived beyond our means,” said Guido Westerwelle, the head of the Free Democrats and Ms Merkel’s coalition partner. The cuts will include redundancy for more than 10,000 civil servants working for federal ministries, a scaling down of welfare payments and the loss of about 40,000 jobs from the Army.
"Ms Merkel and Mr Westerwelle said that there would no slashing of state pensions, no increase in income tax or value-added tax. Such measures, it was decided, could inhibit economic growth and consumer spending. The trade unions were not impressed and have threatened protest action.
2hr coffee breaks? OUTRAGEOUS! Completely unacceptable, coffee breaks should be at least 3 hours, in the middle of the morning, so that a nice nap can be taken before consuming the coffee. Besides, why are you at work anyway? Isn’t this your month off?
Ahh, yes, public employment, it is such a sacrifice.
American April data was solid, too. Then came May and we all saw how that turned out.
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