German factory orders rose in October, a sign that demand from outside the country rose
According to Bloomberg
Orders, adjusted for seasonal swings and inflation, jumped 5.2 percent from September, when they dropped 4.6 percent, the Economy Ministry in Berlin said in a statement today. Economists forecast a 1 percent increase for October, according to the median of 34 estimates in a Bloomberg News survey. In the year, orders rose 5.4 percent when adjusted for work days.
The news was unexpected. Germany’s neighbors in the euro zone continue to struggle financially. This makes them less than ideal trade partners. US consumer activity is still sluggish, although holiday sales have been reasonably strong. Unemployment continues to undercut American GDP growth
Chinese consumer and industrial demand may still be strong as its GDP continues to move higher at a 9% pace. But, China along is unlikely to be the reason for Germany’s success.
Attention will now turn to the November numbers, which, base on the state of the global economy, should be worse.
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