German factory orders rise more than expected in December
By Michele Maatouk
Date: Friday 04 Feb 2022
(Sharecast News) - German factory orders rose much more than expected in December, with domestic demand driving growth, according to figures released on Friday by Destatis.
Orders were up 2.8% on the month following a revised 3.6% jump in November, beating expectations for a 0.5% increase.
On the year, factory orders rose 5.5% in December following a revised 2.3% increase the month before and versus expectations of 2% growth.
Compared to February 2020, a month before Covid-related restrictions kicked in, new orders were 9.8% higher in seasonally and calendar-adjusted terms.
Domestic orders rose 11.7% on the month in December, but foreign orders fell 3%. New orders from the eurozone declined 4.2%, while orders from other countries were 2.3% lower.
Producers of intermediate goods saw new orders rise 4.1% on the month in December, while capital goods makers recorded a 1.8% jump and consumer goods manufacturers saw orders rise 5.3%.
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