US EditionGerman factory orders rise at fastest rate in 2 years in December
Metal product orders surged over 30%, boosting overall factory orders by 7.8% in December, marking the largest monthly increase in two years, Destatis reported.
- New orders jumped 7.8 percent in December, according to Destatis, marking the biggest monthly rise in two years.
- Large-Scale contracts drove the December increase, with orders for metal products rising over 30 percent and machinery, equipment, and computer and electronic products also growing significantly.
- FactSet's survey showed analysts expected just one percent growth in December, while Jens-Oliver Niklasch, LBBW bank economist, said a `trend reversal` looked to be underway.
- This year the government is forecasting the economy will pick up speed, and Merz has launched a public spending campaign in defence and infrastructure, with signs of a turnaround in manufacturing fueling hopes.
- Despite the headline gain, orders fell in the automotive industry and in other transport equipment including aircraft, ships, trains, and military vehicles, reflecting sectoral divergence.
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34 Articles
After a long crisis, German industry seems to be back on its feet. In December, orders for the companies increased as much as two years ago. Economists are positively surprised.
Instead of an expected decline by experts, there is a strong increase in orders in German industry in December. However, this is mainly due to a number of large orders. Economists still see the German economy on the rise.
Industrial orders have now risen for four consecutive months.
German industry recorded an order increase at the end of last year.
ABC FOX Montana
German factory orders rise at fastest rate in 2 years in December
German factory orders unexpectedly posted their biggest rise in two years in December, official data showed Thursday, fuelling hopes that a turnaround is taking hold in Europe's struggling top economy.
The industry surprises with the largest increase in orders in two years and increases almost eight percent compared to the previous month. Economists speak of a turnaround in the trend.
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