Economics
German Factory Orders Surpassed Pre-Pandemic Levels in October
- Demand rose 2.9% from previous month vs est. +1.5% gain
- Increase was led by investment goods and export demand
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German factory orders rose for a sixth month in October and surpassed pre-crisis levels, in a sign of the manufacturing sector’s growing resilience to the pandemic.
Demand rose 2.9%, nearly twice as much as predicted by economists. The Economy Ministry said the gain was led by investment goods, which were particularly well-sought outside the euro area.