Home / Business and Economy / German Industry Orders Surge Unexpectedly
German Industry Orders Surge Unexpectedly
8 Jan
Summary
- German industrial orders saw an unexpected rise in November.
- New orders increased by 5.6% month-on-month, surpassing analyst predictions.
- Excluding large-scale orders, the growth was a more modest 0.7%.
In a surprising turn of events, German industrial orders experienced an unexpected uptick in November. Official data revealed a significant 5.6% increase compared to the previous month, on a seasonally and calendar adjusted basis. This figure notably surpassed analyst predictions, which had anticipated a decline of 1%.
The robust growth was primarily fueled by the inclusion of large-scale orders. When these substantial orders were excluded, the data indicated a more modest, yet still positive, increase of 0.7% in new orders for November.
Looking at a broader trend, the comparison of new orders over a three-month period from September to November showed a 4.0% rise compared to the preceding three months. October also saw an upward revision, with orders increasing by 1.6% from September.
