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German industry orders rise at strongest pace in 2-1/2 years
February 6, 2017 / 7:02 AM / 10 months ago

German industry orders rise at strongest pace in 2-1/2 years

BERLIN, Feb 6 (Reuters) - Higher demand for capital goods at home and abroad drove the biggest monthly increase in German industrial orders in around 2-1/2 years in December, data showed on Monday.

Contracts for goods ‘Made in Germany’ were up by 5.2 percent on the month, the Economy Ministry said. That was the biggest monthly increase since July 2014 and was far stronger than the Reuters consensus forecast for a rise of 0.5 percent.

Domestic demand jumped by 6.7 percent while foreign orders increased by 3.9 percent, with bookings from euro zone countries soaring by 10.0 percent.

The data for November was revised down to a fall of 3.6 percent from a previously reported drop of 2.5 percent. (Reporting by Michael Nienaber; Editing by Michelle Martin)

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