Germany’s factory orders increased unexpectedly in November and at the quickest pace in almost a year, data released by Destatis showed on Thursday.
Factory orders climbed 5.6 percent on a monthly basis, following a revised 1.6 percent increase in October. This was in contrast to the anticipated decrease of 1.0 percent.
Moreover, this was the fastest growth since December 2024, when orders rose 5.8 percent.
Excluding large orders, new orders were 0.7 percent higher than in the previous month.
The positive development in November was attributable to significant increases in the manufacture of metal products by 25.3 percent and in other vehicle construction with an expansion of 12.3 percent, the agency revealed.
New orders for capital goods grew 7.9 percent, and demand for consumer goods rose markedly by 8.2 percent. Data showed that orders for intermediate goods rose 1.0 percent.
Foreign orders advanced 4.9 percent in November. Orders from within the Eurozone surged 8.2 percent, and those from outside the Eurozone increased 2.9 percent. Domestic orders grew 6.5 percent.
On an annual basis, factory orders logged a double-digit growth of 10.5 percent, reversing a decrease of 0.7 percent in October.
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