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German Industrial Orders See Uptick Due to Large Orders

The German Statistical Office released data on February 6th, indicating an increase in German industrial orders in December 2022, with a rise of 3.2% compared to the previous month. The figure exceeded analysts’ predictions of a 2.0% increase, following a 4.4% decline in November.

The Bureau of Statistics revealed that the boost in orders was due to large orders, and if such orders were excluded, industrial orders would have declined by 0.6%. Despite the overall decline in new orders throughout 2022, with a decrease of 10.1% in December compared to the same period in the previous year, new orders in December 2022 were slightly higher than those in December 2019, before the outbreak of COVID-19. The figures show a 1.2% increase compared to December 2019.

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