According to data released by the Federal Statistical Office of Germany, industrial orders in Germany rose by 1.0% in January. The figure surpassed the expectations of analysts who had predicted a 0.9% decrease for the same period.
The unexpected rise in industrial orders in Germany can be attributed to increased demand from both domestic and international markets. Orders from eurozone countries increased by 4.2%, while orders from non-eurozone countries rose by 0.9%.
The increase in orders was largely driven by the manufacturing sector, which saw a 2.5% rise in orders. The production of intermediate goods, such as machinery and equipment, saw the most significant increase at 3.8%. Orders for capital goods, such as computers and industrial machinery, also rose by 2.0%.
Nevertheless, the unexpected rise in industrial orders in January is a positive sign for the German economy. The increase in orders is expected to provide a much-needed boost to the country’s manufacturing sector and contribute to economic growth in the coming months.