(dpa) – German industry representatives expect production orders to pick up pace, the economic research institute Ifo said on Friday.
The corresponding indicator rose to 30.4 points in March, the highest level since 1991. In February, the metric had stood at 21.5 points, Ifo said.
“The order books are filling up, and there is still a lot of catching up to do after the crisis year,” Ifo expert Klaus Wohlrabe said, adding that almost all sectors of the economy has announced production increases.
“The automotive and electrical industries in particular want to expand their production significantly,” Wohlrabe said.
In the automotive industry, the indicator rose from 36 to 46 points, according to Ifo, while the electrical industry recorded a jump from 32 to 44 points.