Frankfurt am
Main New business for German industrial firms climbed in January on strong foreign demand, official data showed Friday, but domestic orders took a hit from fresh coronavirus restrictions.
Orders rose 1.4 percent month-on-month, federal statistics office Destatis said in seasonally adjusted figures, rebounding from a 2.2 percent slump in December.
Compared with January 2020, new orders were up 2.5 percent, Destatis said.
Industrial orders are closely watched as a key indicator of future economic activity, especially in manufacturing powerhouse Germany.
The month-on-month January increase was driven by a 4.2 percent jump in new orders from abroad, particularly outside the eurozone, Destatis said.— AFP
