World 8.1.2018 08:38 am

German industrial orders dip in November

German industrial orders dip in November

Industrial orders in Germany fell in November, data showed on Monday, but not enough to derail the growth outlook for Europe’s biggest economy, analysts said.

Industrial orders fell by 0.4 percent in November from the preceding month, the federal statistics office Destatis calculated in a statement.

Analysts had been expecting a bigger drop, following a 0.7-percent increase in orders in October.

The economy ministry in Berlin attributed the dent to a drop in more volatile larger orders, insisting that, overall, contracts had developed “very dynamically in the second half of 2017.”

And that would “lay the foundation for a strong start to the year for industry,” the ministry said in a statement.

Analysts agreed.

“The decrease comes after three consecutive increases and is more of a technical nature than any sign of weakness,” said Carsten Brzeski, economist at ING Diba bank.

“There is little reason to get concerned” about German industry, the expert said.

 

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