Germany’s rapid industry-led economic rebound has gained fresh momentum, with Berlin reporting on Wednesday that industrial orders had surged a further 2.4 per cent in February.
The stronger-than- expected increase followed a 3.1 per cent month-on-month rise in January and added to evidence that Europe’s largest economy had started 2011 strongly.
Germany’s industrial recovery helps explain why the European Central Bank is expected to announce a quarter percentage point rise to 1.25 per cent in its main interest rate today. The ECB fears inflation rates, driven up by oil and commodity prices, could become entrenched via higher wage demands.
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