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Financial News: Germany Factory Orders Unexpectedly Rebound

Germany Factory Orders Unexpectedly Rebound

02/06/2024 - 02:18:00 (RTTNews)

(RTTNews) - Germany's factory orders unexpectedly rebounded in December, figures from Destatis showed on Tuesday.

Factory orders registered a monthly expansion of 8.9 percent after remaining unchanged in November. Orders were forecast to fall 0.1 percent.

Domestic orders surged 9.4 percent and foreign orders grew 8.5 percent.

However, data showed that order intake excluding major orders declined 2.2 percent from November.

On a yearly basis, factory orders advanced 2.7 percent, in contrast to the 4.7 percent decline a month ago.

In 2023 as a whole, industrial orders decreased 5.9 percent.

In December, manufacturing turnover slid 0.1 percent following a 0.7 percent drop in November. Year-on-year, turnover was down 3.1 percent.

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