German Factory Orders Beat Estimates in Nov

The German Factory Orders increased in November, suggesting that the manufacturing recovery in Europe’s gaining some momentum.

Contracts for goods ‘Made in Germany’ came at +2.3% m-o-m vs -1.2% expected and +3.3% previous, the latest data published by the Federal Statistics Office showed on Thursday.

On an annualized basis, Germany’s Industrial Orders raised by 6.3% in the in Nov vs. +2.3% last and -0.1% expectations.