Germany Factory Orders Unexpectedly Rebound

(RTTNews) – Orders from German factories rebounded unexpectedly in December, Destatis figures showed on Tuesday.

Factory orders recorded monthly growth of 8.9 percent after remaining unchanged in November. Orders are expected to fall 0.1 percent.

Domestic orders jumped 9.4 percent and foreign orders jumped 8.5 percent.

However, the data showed that order intake excluding large orders fell 2.2% from November.

On an annual basis, factory orders rose 2.7 percent, compared with a 4.7 percent decline a month ago.

For the whole of 2023, industrial orders fell by 5.9 percent.

In December, turnover in the manufacturing sector fell by 0.1 percent after a decline of 0.7 percent in November. Year-on-year, turnover fell by 3.1 percent.

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