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German Factory Orders Rebound

German Factory Orders ReboundGerman Factory Orders Rebound

German factory orders rebounded in October, increasing 1.8% after three months of declines and beating projections as both foreign and domestic demand rose, AP reported. The Federal Statistical Office said Friday that domestic orders in October increased 1.7% on the previous month while foreign orders were up 1.8% in seasonally adjusted terms. New orders from countries using the euro currency rose 2.4%, while those from other countries increased 1.4%. Economists had been predicting an overall increase of 1.2%. The office also said it was correcting September’s figure to show a drop of 0.7% compared with the provisional 1.7% initially reported.

Financialtribune.com