German factory orders raise economic hopes

The strongest monthly rise in German industrial output in over a year is an 'encouraging signal' for the economy, Germany's statistics agency has said.

German industrial output rose 4.6% in July despite concerns over the Ukraine crisis, Destatis said.

The economy ministry figure was much higher than many economists had forecast, and comes after a 2.7% fall in output in June.

Foreign orders made up the bulk of the rise in demand, the ministry added.

BBC Business