By Maria Martinez
(Reuters) – German industrial orders unexpectedly jumped in December, the federal statistics office said on Tuesday.
Orders rose by 8.9% on the previous month on a seasonally and calendar adjusted basis. A Reuters poll of analysts had expected industrial orders to remain flat.
In a less volatile three-month comparison, industrial orders from October to December 2023 were 0.1% higher than in the previous three months.
The lack of orders in manufacturing is increasingly becoming a burden on the German economy, the Ifo Institute said on Monday.
In January, 36.9% of manufacturing companies reported a lack of orders, up from 36.0% in October, according to Ifo’s surveys. A year ago, the proportion was just 20.9%.
For 2023 as a whole, calendar-adjusted industrial orders fell by 5.9% compared to the previous year.
(Reporting by Maria Martinez and Mateusz Dobrzyniewski, editing by Bartosz Dabrowski)
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