German Factory Orders Unexpectedly Rise as Economy Powers Ahead
- Demand increased 1% in September vs estimated 1.1% decline
- Economy Ministry says bulk orders were below average
Photographer: Krisztian Bocsi/Bloomberg
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German factory orders unexpectedly rose for a second month, adding to signs that Europe’s largest economy will continue expanding at a solid pace.
Orders, adjusted for seasonal swings and inflation, increased 1 percent in September after an upwardly revised surge of 4.1 percent in August, data from the Economy Ministry in Berlin showed on Monday. The typically volatile reading compares with a median estimate for a 1.1 percent decline in a Bloomberg survey. Demand was up 9.5 percent from the previous year.