Economic news

German industry orders rise above forecasts in December

German industrial orders increased more than forecasted in December, the Federal Statistics Office reported. Europe’s largest economy is seen to grow solidly this year after rising by 2.2 percent in 2017.

Plants registered a 3.8 percent surge in orders, that far exceeding predictions in a Reuters poll for a moderate 0.7 percent increase.

Foreign orders for products of German industrial enterprises in December increased by 5.9% compared to November. Orders of the eurozone countries jumped by 11.2%.

The fresh figures underpinned evidence that the European Central Bank’s easy monetary policy is boosting consumption and increasing demand for German goods and services from a rising common currency bloc.

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