German industrial orders rebounded more than forecast in May, driven by a 7.7-per-cent surge in demand from the nation's debt-hit eurozone partners, data released Thursday showed, dpa reported. The Ministry for Economics said monthly factory orders grew by 0.6 per cent in May with the increase led by a sharp rise in foreign demand. Economists had forecast a more modest 0.3-per-cent gain in total orders. Releasing the data, the ministry also revised down the drop in orders during April to show a fall of 1.4 per cent instead of a previously estimated 1.9-per-cent contraction. "Industrial orders remain on an upward trend," the ministry said releasing the data. However, domestic orders fell by 1.3 per cent in May after rising by 0.6 per cent in April. The jump in orders from Germany's key trading partners in the 17-member eurozone came despite large parts of the currency bloc having stumbled into recession as governments step up efforts to slash high debt-and-deficit levels through fiscal austerity. The 7.7-per-cent gain in orders from the eurozone more than cancelled out a 1.3-per-cent slump in April and resulted in total foreign orders rising by 2.3 per cent. -- SPA
