German Orders Surge in December

Orders placed with companies in the German manufacturing sector surged sharply in December, largely as a result of an unusually large number of big-ticket orders, official data showed on Friday. The Economics and Labor Ministry calculated that German manufacturing orders jumped by 7.1 percent in December from November, after falling by 2.4 percent the previous month. The development was due to an "above average" number of big-ticket orders, particularly for capital goods, the ministry said in a statement. Capital goods orders soared by 12.8 percent, while orders for semi-finished goods were up by 1.5 percent and orders for consumer goods rose by 1.8 percent. Demand for goods made in Germany was buoyant both inside and outside Germany, with domestic orders surging by 8.8 percent month-on-month in December, and export orders rising by 5.3 percent. Using a two-month comparison to iron out seasonal fluctuations, orders in all of Germany were up by 1.6 percent in November and December combined from the figure for September and October, the ministry said.