German Factory Orders Rise Less Than Forecast

(RTTNews) - Germany's factory orders rose less than expected in November, data from Destatis revealed on Monday.

Orders climbed 0.3 percent on a monthly basis in November, in contrast to the revised 3.8 percent decline in October. But the pace of expansion was weaker than the expected rate of 1.0 percent. On a yearly basis, new orders declined 4.4 percent after a 7.3 percent decrease.

The overall monthly growth was driven by the 1.4 percent rise in domestic orders. Meanwhile, foreign orders dropped 0.4 percent. Orders from the euro area slid 1.9 percent, while that from the rest of the world gained 0.6 percent.

Data showed that manufacturing turnover dropped 0.7 percent after a 0.2 percent fall in October.