Germany's factory orders up in January

By Gokhan Ergocun

ISTANBUL (AA) - New orders in manufacturing increased by 1.8% in January on a monthly basis and 7.3% on a yearly basis in Germany, the country’s statistical office Destatis said on Monday.

Compared to February 2020, before pandemic restrictions in Germany, new orders rose by 11.9% last month, the office added.

"The increase of new orders in manufacturing is mainly due to orders abroad: foreign orders increased by 9.4% in January 2022 on the previous month," it stated.

Destatis also said that new orders from the non-euro area rose by 17% month-on-month in January.

Meanwhile, new orders from the euro area and domestic market fell by 2.6% and 8.3%, respectively, over the same period.

The producers of capital goods saw an increase of 5.5%, while producers of intermediate goods and consumer goods posted decreases by 2.6% and 4.6, respectively.