German factory orders rebound strongly
By Benjamin Chiou
Date: Thursday 06 Feb 2025
(Sharecast News) - Factory orders in Germany rebounded strongly in December after two months of declines, according to data out on Friday from Destatis, the Federal Statistical Office.
Price-adjusted new orders in manufacturing were up 6.9% over the month, following a revised 5.2% slump in November.
That was well ahead of the 2.0% increase expected by economists.
The stronger-than-expected result was mainly due to a huge 55.5% surge in new orders for transport equipment (aircraft, ships, trains, military vehicles) due to several large-scale orders. Machinery and equipment orders were also up 8.6% in December, tempered slightly by a 3.2% drop in automotive orders.
When large-scale orders are excluded, factory orders increased by 2.2% over the month.
Domestic orders were 14.6% higher, mainly due to the large-scale orders for transport equipment, while foreign orders rose 1.4%.
Despite December's strong outturn, for 2024 as a whole, factory orders were down 3% on a calendar-adjusted basis, continuing a downward trend seen since 2021.
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