Investing.com – German factory orders surged significantly more-than-expected in November, official data showed on Thursday.
In a report, Deutsche Bundesbank said factory orders increased by a seasonally adjusted 5.2% in November, after rising by 1.6% in October.
Analysts had expected German factory orders to rise by 1.1% in November.
The data showed that year-on-year German factory orders rose more-than-expected in November, soaring by 20.6%, after rising by 17.9% in October. Analysts had expected year-on-year German factory orders to rise by 15.9% in November.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD falling 0.35% to hit 1.3104.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 gained 0.80%, France’s CAC 40 jumped 0.80%, Germany's DAX surged 0.97%, while the FTSE 100 added 0.56%.
In a report, Deutsche Bundesbank said factory orders increased by a seasonally adjusted 5.2% in November, after rising by 1.6% in October.
Analysts had expected German factory orders to rise by 1.1% in November.
The data showed that year-on-year German factory orders rose more-than-expected in November, soaring by 20.6%, after rising by 17.9% in October. Analysts had expected year-on-year German factory orders to rise by 15.9% in November.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD falling 0.35% to hit 1.3104.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 gained 0.80%, France’s CAC 40 jumped 0.80%, Germany's DAX surged 0.97%, while the FTSE 100 added 0.56%.