Deutsche Bundesbank Monthly Report, September 2004

The Deutsche Bundesbank's September 2004 Monthly Report finds that according to the latest data, industry is still on an upward trend. Following weaker figures in June, both new orders and output showed a further clear seasonally adjusted rise in July, it says.

"In terms of demand, export orders, in particular, showed a marked increase, while domestic orders remained subdued. Producers of durable consumer goods recorded the largest rise in output. By contrast, there was no more than a slight

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