German industrial orders surprise with October boost
German industrial orders surprise with October boost
Frankfurt am Main - Egypt Today
Industrial firms in Germany beat analysts' expectations by reporting slightly increased orders in October, official data showed Wednesday, suggesting a run of strong growth has further to go before petering out.
New contracts -- seen as an indicator of future growth in Europe's largest economy -- added 0.5 percent month-on-month, figures from federal statistics authority Destatis showed, where analysts surveyed by Factset had predicted a slight decrease.
The statisticians also revised the previous month's growth in orders up slightly, to 1.2 percent.
Both domestic and foreign demand for German goods contributed to the October increase, with 0.4-percent growth in orders at home and 0.5-percent expansion abroad.
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