Germany’s factory orders recovered at a faster than expected pace in October, data from Destatis revealed Friday.
Factory orders increased 1.8 percent in October from the previous month, reversing a revised 0.7 percent fall in September. Economists had forecast a 1.2 percent rise for October.
The decline for September was revised from an initially estimated decrease of 1.7 percent.
Domestic orders advanced 1.7 percent and foreign orders climbed 1.8 percent in October.
As regards the direction of trade in foreign transactions, new orders from the euro area gained 2.4 percent and that from other countries increased 1.4 percent.
Further, data showed that manufacturers of intermediate goods edged up 0.1 percent and the manufacturers of capital goods registered 2.7 percent monthly growth. For consumer goods, an increase in new orders of 3.8 percent was reported.
The material has been provided by InstaForex Company – www.instaforex.com