Economic Buzz: German Factory Orders Grow 3.7% On Month In November

6 Jan 2022 , 01:02 PM

Germanys factory orders rebounded in November largely driven by foreign demand, data from Destatis showed on Thursday. New orders grew 3.7 percent month-on-month in November, reversing a strong decline of 5.8 percent in October. Excluding major orders, new orders advanced 3.8 percent from the previous month. The strong growth in new orders was attributable to foreign orders which increased by 8.0 percent. At the same time, domestic orders went up 2.5 percent. Data showed that manufacturing turnover gained 4.1 percent on month, following a 3.4 percent rise in October. Compared with November 2020, turnover was by 0.3 percent higher.

Powered by Commodity Insights