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German manufacturing orders boosted by domestic demand in Nov.

Xinhua, January 7, 2016 Adjust font size:

New orders received by German manufacturing sector increased for the second consecutive month in November 2015 with domestic demand making most contributions, official data showed on Thursday, adding signs that Europe's biggest economy turned more domestically oriented when facing uncertainties abroad.

Demand for German products increased by 1.5 percent in November 2015 from the previous month, said German federal statistics office Destatis. In October, the new orders grew monthly by 1.7 percent.

Although demand from outside the country also increased slightly by 0.6 percent in November, the most contributions were made by demand inside Germany which grew by 2.6 percent.

According to German economy ministry, even in a less volatile two-month comparison, German manufacturing orders in October-November period also went up by 2 percent. Domestic orders rose by 2.5 percent, while those from abroad increased by 1.7 percent.

Analysts said the data showed that German economy was shifting towards domestic activities, ensuring the sustainability of growth at a time when the global recovery remained weak.

"After the decline of new orders in the third quarter, the impression of a modest recovery in manufacturing is reinforcing," said the economy ministry. "Sentiment indicators of the industry also send positive signals."

A recent survey by Munich-based Ifo economic institute found that German manufacturing enterprises planned to increase their investment by 6 percent in 2016, two percentage points higher than in the previous year.

Employment in manufacturing sector increased for the 15th month in December 2015, another survey by financial information provider Markit found, when production in the sector saw the strongest expansion in four months. Enditem