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Financial News: German Factory Orders Unexpectedly Grow In November

German Factory Orders Unexpectedly Grow In November

01/07/2021 - 02:22:00 (RTTNews)

(RTTNews) - Germany's manufacturing orders grew further in November, defying expectations for a decline, figures from the Federal Statistical Office/Destatis showed Thursday.

Factory orders rose 2.3 percent month-on-month in November, while economists had forecast a 1.2 percent fall.

The growth for October was revised to 3.3 percent from 2.9 percent.

Excluding major orders, real new orders in manufacturing rose 1.6 percent from the previous month.

Domestic orders increased 1.6 percent and foreign demand grew 2.9 percent.

On a year-on-year basis, factory orders grew 6.3 percent in November after a 2.3 percent increase in the previous month.

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