German Factory Orders Surge Almost Four Times More Than Forecast
By Jana Randow - Dec 6, 2012 6:00 AM ET
German factory orders surged almost four times as much as economists forecast in October, driven by foreign demand.
Orders, adjusted for seasonal swings and inflation, jumped 3.9 percent from September, the Economy Ministry in Berlin said today. It revised September’s drop to 2.4 percent from 3.3 percent. The increase in October is the biggest since January 2011 and exceeds the median forecast for a 1 percent gain in a Bloomberg News survey of 42 economists. From a year earlier, orders fell 2.4 percent when adjusted for work days.
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