Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now
News

German Factory Demand Rebounds on Higher Overseas Orders

0
Made in Germany. On a wooden board metal plate with european union flag

German factory orders rebounded in November mainly on the growth of overseas orders amid supply chain concerns.

Source: Destatis

EWG is down 0.12% premarket.

Factory orders increased by 3.7%, following the 5.8% drop in the previous month. The growth was attributed to the increase in overseas orders, while a drop was seen in domestic demand.

German auto sales plunged to the lowest level in at least three decades, dragged by the ongoing semiconductor shortages. Manufacturers are optimistic that the supply issues will ease this year but warned that supply will remain tight until June.

The rebound faces downward risks such as persistent supply-chain problems, inflationary concerns, the ongoing energy crunch, and the rise in COVID-19 cases. The government just recently reimposed stricter restrictions to prevent a new outbreak.

A recent survey indicated that there were “tentative signs” that constraints eased in December.

fxcoach

Bladerunner Forex Strategy: How to Use It?

Previous article

Eurozone, EU Industrial Inflation Surge Over 20% in November

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in News