German factory orders surge by 5.6% month-on-month in November, significantly exceeding the anticipated -1%

German Factory Orders Show Unexpected Growth in November

According to figures released by the Federal Statistics Office on Thursday, Germany's manufacturing sector demonstrated renewed strength in November as factory orders rose more than anticipated.

Orders for German-made products increased by 5.6% in November, following a revised 1.6% gain in October. This result defied expectations, which had predicted a 1% decrease.

On an annual basis, industrial orders in Germany soared by 10.5% in November, a sharp turnaround from the 0.7% decline recorded previously.

Impact on the Euro

The robust German data has provided some support for the Euro, with EUR/USD trading slightly higher around 1.1685 at the time of reporting.