German industry orders surge to highest level in over 6.5 yrs in Dec
[BERLIN] German industrial orders surged far more than forecast in December, recovering from a sharp fall the previous month and hitting their highest level since April 2008, data from the Economy Ministry data on Thursday.
Bookings for goods made in Europe's largest economy climbed by 4.2 per cent, beating the Reuters consensus forecast for a 1.5 per cent gain and overshooting even the highest estimate for a 3.0 per cent increase.
That was the sharpest rise since July and came after a 2.4 per cent drop in November.
The increase was driven by solid increases in both foreign and domestic demand. Capital goods contracts posted strong gains while factories churning out intermediate goods also received more new orders but consumer goods bookings fell.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Chinese tourists are again embracing international travel
Abu Dhabi raises US$5 billion with first eurobonds in three years
Thailand’s 500 billion baht handout aims to boost overall economy, not geared to poor: official
German business sentiment rises more than expected in April: Ifo
Indonesia’s central bank surprises with “pre-emptive” rate hike to cushion falling rupiah
Prabowo’s aide says Indonesia doesn’t need another rate hike