German factory orders beat expectations with November increase
The gain builds on October’s upwardly revised 1.6% expansion. Much of the November boost comes from sharp increases in metal product manufacturing, which jumps 25.3%, and in vehicle production categories such as aircraft, ships, trains, and military equipment, which climb 12.3%.
“Furthermore, moderate increases in several other sectors, including the manufacture of electrical equipment, mechanical engineering, and the manufacture of data processing equipment, electronic and optical products, had a positive impact on the overall result,” the federal statistics office notes.
Capital goods orders rise 7.9% month on month, while intermediate goods edge up 1.0% and consumer goods advance 8.2%. Foreign demand also strengthens, with overall international orders up 4.9%. Orders from within the Eurozone increase 8.2%, those from outside the bloc rise 2.9%, and domestic demand grows 6.5%.
On a yearly basis, factory orders surge 10.5%, underscoring resilience in Europe’s largest industrial economy despite expectations of weakness.
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