German factory orders rebound in October after 3-month drop

Hamburg

GERMAN factory orders rose for the first time in four months, climbing more than economists anticipated, as demand for investment and consumer goods jumped amid an economic recovery in the country and the 19-nation euro region.

Orders, adjusted for seasonal swings and inflation, rose 1.8 per cent in October after a revised 0.7 per cent drop in September, data from the Economy Ministry in Berlin showed on Friday. The increase follows three consecutive monthly declines and compares with an estimate for an expansion of 1.2 per cent. Orders fell 1.4 per cent from a year earlier.