German manufacturing orders surge 2.8% in December, beating forecasts

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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.

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