The euro’s recent free-fall has helped increase demand for German exports. Order rose 2.8 percent in April, following a 5.1 percent increase in March.
EuropeÃ¢â‚¬â„¢s sovereign debt crisis has pushed the euro down 20 percent against the dollar since late November, making exports to countries outside the 16-nation currency bloc more competitive. While budget cuts across the region may crimp economic growth, German factories are ramping up production to meet booming foreign orders and a rebound in domestic investment.
Ã¢â‚¬Å“The weaker euro is really kicking in now, and Germany has a dominant position when comes to making the machines that power the global economy,Ã¢â‚¬Â said Carsten Brzeski, an economist at ING Group in Brussels. Ã¢â‚¬Å“The second quarter will be really strong. European budget tightening will hit German companies later in the year.Ã¢â‚¬Â
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