German industrial orders decrease unexpectedly in November

BERLIN, Jan. 8 (Xinhua) -- German manufacturing orders decreased slightly in November 2017, provisional figures released on Monday by the Federal Statistical Office (Destatis) showed.

Seasonally-adjusted new manufacturing orders in November fell 0.4 percent on the previous month, Destatis reported, adding that domestic and foreign orders decreased by 0.4 percent and 0.5 percent each.

Among foreign orders, the ones from the euro area rose indeed by 0.7 percent, while new orders from other countries and regions outside the euro area fell by 1.2 percent compared to October 2017.

The statement also showed that the orders of intermediate goods manufacturing experienced an increase of 2.0 percent. Consumer goods sector also saw a monthly increase of 3.2 percent, while capital goods sector suffered a fall of 2.3 percent.

Despite the slight fall of new orders in November, the price-adjusted turnover in manufacturing in November 2017 was up by 4.6 percent on the previous month, according to the provisional figures.

"The trend of new orders continues to rise steeply," commented Marco Wagner, an analyst with German commercial bank Commerzbank.

The Federal Ministry for Economic Affairs and Energy also believed that there is a firm trend in the future, stating that new order will continue to rise upward strongly. Enditem