By Maria Martinez
German manufacturing orders increased in December, beating expectations amid continuing supply-chain disruptions.
Manufacturing orders rose 2.8% on month in December in adjusted terms, following a revised 3.6% increase in November, according to data from federal statistics office Destatis released Friday.
Economists polled by The Wall Street Journal had expected orders to increase by 0.3%.
Orders of intermediate goods rose 4.1% on month and capital goods orders increased 1.8%. Regarding consumer goods, orders rose 5.3%, Destatis said.
Domestic orders increased a strong 11.7%, while foreign orders fell 3.0%, the data showed. New orders from the eurozone fell 4.2%, and new orders from other countries declined 2.3%.
Manufacturing orders rose 5.5% in December on an annual basis, adjusted for calendar and price effects, and were 9.8% above February 2020’s pre-pandemic levels, the statistics office said.
German industrial production data for December is due to be published Monday.
Write to Maria Martinez at maria.martinez@wsj.com
This article was originally published by Marketwatch.com. Read the original article here.
