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German industrial orders rebound

February 7, 2018 12:00 AM
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German industrial orders rebound

Frankfurt: Industrial orders in Germany rose strongly in December, data showed on Tuesday, underlining the strength of the recovery in Europe´s biggest economy, analysts said.

After dipping in November, industrial orders increased by 3.8 percent month-on-month in December, federal statistics authority Destatis calculated in seasonal and calendar adjusted data. Analysts had been pencilling a more modest rise of 0.7 percent.

Much of the increase was accounted for by more volatile big-ticket items, such as aircraft orders. Adjusted for those, overall orders were up by a more modest 0.8 percent, Destatis said.

And the increase was also driven primarily by foreign demand for German-made goods, with domestic orders edging only slightly higher, the data showed.

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Source: thenews.com.pk

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