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German factory orders rise most since 2014

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Christian Fernsby ▼ | March 6, 2020
Germany's factory orders grew at the fastest pace in five and a half years in January on strong foreign demand, especially in aircraft and mechanical engineering, data from Destatis revealed today.
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Business in Germany   German factory
Factory orders expanded 5.5 percent on a monthly basis, reversing a 2.1 percent decrease in December. This was the biggest increase since July 2014. Orders were forecast to grow moderately by 1.2 percent.

Topics: German factory

Excluding big orders, new orders grew 2.3 percent from December.

Domestic orders dropped 1.3 percent, while foreign orders advanced 10.5 percent. Orders from the euro area surged 15.1 percent and that from other countries grew 7.8 percent.

Year on year, industrial orders dropped 1.4 percent, but the gain was smaller than the expected decline of 5.4 percent and December's 8.9 percent fall.