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German factory orders rebound in December on large-scale demand

By Frank Prenesti

Date: Monday 06 Feb 2023

(Sharecast News) - German factory orders bounced back in December as large-scale orders boosted demand, according to official data released on Monday.

Factory orders rose 3.2% in December compared with a 4.4% fall in November on a price-adjusted basis, the statistics office Destatis said.

The increase was mainly driven by large-scale orders, in particular for electricity distribution apparatus, engines and turbines, and air and spacecraft machinery, Destatis said. Excluding these, orders actually fell 0.6% in December.

Domestic orders were up 5.7%, while foreign orders rose 1.2%, including a 9.8% rise in eurozone orders and a 3.8% fall in the rest of the world.

"This is a solid upside surprise, especially factoring-in the revisions, but the reality remains that the December leap in new orders failed to reverse the slide midway through the quarter," said Pantheon Macroeconomics.

Reporting by Frank Prenesti for

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