Factory Orders In Germany Rise Above Expectations

Factory Orders In Germany Rise Above Expectations

Factory orders in Germany this month rose 5.5 percent, above expectations, due to higher orders in the aerospace and mechanical engineering sectors. Germany's Federal Statistical Office (Destatis) has announced January Statistics for factory orders. Orders for domestically produced products across the country rose 5.5 percent in January, compared with the previous month. Factory orders fell 1.4 percent compared with the same month last year. The market expectation for factory orders was for a 1.4 percent month-on-month increase. The 5.5 percent increase in factory orders in January was the highest since July 2014. In Germany, domestic orders fell 1.3 percent month-on-month in January, while foreign orders rose 10.5 percent. During the period, new orders from the Eurozone rose 15.1 percent and orders from other countries also rose 7.8 percent. Dec goods producers 'orders increased 3.5 percent, capital goods orders 7.1 percent and consumer goods producers' orders 2.9 percent in January. In manufacturing, seasonality and turnover adjusted for working days increased 2 percent compared to the previous month. December-October-November compared to the manufacturing industry orders rose 0.2 percent in January, the German economy and Energy Ministry said, adding that larger orders in January and fewer holiday days contributed to this increase was said to be. “In this respect, the industrial economy is likely to be at a turning point, " the ministry said, pointing out that overall orders have stabilized in recent months and that business expectations of firms have improved for five consecutive months.” said in a statement. The country's economy grew 0.6 percent last year, while the German government expects growth to be 1.1 percent this year.