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German industry orders surge to highest level in over 6.5 yrs in Dec
February 5, 2015 / 7:04 AM / 3 years ago

German industry orders surge to highest level in over 6.5 yrs in Dec

BERLIN, Feb 5 (Reuters) - German industrial orders surged far more than forecast in December, recovering from a sharp fall the previous month and hitting their highest level since April 2008, data from the Economy Ministry data on Thursday.

Bookings for goods made in Europe’s largest economy climbed by 4.2 percent, beating the Reuters consensus forecast for a 1.5 percent gain and overshooting even the highest estimate for a 3.0 percent increase.

That was the sharpest rise since July and came after a 2.4 percent drop in November.

The increase was driven by solid increases in both foreign and domestic demand. Capital goods contracts posted strong gains while factories churning out intermediate goods also received more new orders but consumer goods bookings fell. (Reporting by Michelle Martin; Editing by Stephen Brown)

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