10 January 2003, 15:33  German factory orders rise unexpectedly

Manufacturing orders in Germany rose unexpectedly in November, indicating some signs of life in the struggling economy Factory orders rose a seasonally-adjusted 1.7pc in November from October and were up 2.4pc year-on- year, according to preliminary data from the economy ministry. Orders had been expected decline by 0.6pc and the increase was the largest in six months.
The ministry cautioned that the data was influenced by an above average increase of large orders being booked in the period, particularly from abroad, but also said that two-month average rates show that the upward trend continued in November, with both domestic and foreign orders posting increasing Foreign orders rose 4.3pc in November from October, while domestic orders slipped 0.4pc. On a two month basis, foreign orders increased by 2.1pc in October/November from August/September and domestic orders rose 0.9pc Earlier, the government reported that the trade surplus widened in November to E12bn from E7.4bn a year earlier as exports increased by 7pc. Sluggish domestic demand left imports down by 1.8pc over the same period //www.fxcentre.com

© 1999-2024 Forex EuroClub
All rights reserved