The German factory orders rose 0.3% in November after falling 3.8% in October (figure revised downward from -3.7%), as reported by Destatis. The data disappoints market expectations, since an increase of 1% was expected. In any case, this is the first increase after two consecutive months of falls.
TO year-on-year level, the indicator has fallen 4.4% in November after declining 7.3% in October, marking its fifth consecutive decline.
In November 2023, German exports increased by 3.7% monthly, exceeding the previous -0.4% and improving the expected 0.3% growth. This is its biggest rise in nine months. On the other hand, imports increased 1.9% monthly compared to -1.1% previously. This is the first increase recorded by the indicator after five consecutive months of falls. In addition, it is its biggest increase since February 2023.
According to provisional data, the Federal Statistical Office (Destatis) also reports that exports decreased by 5.0% and imports fell by 12.2% compared to November 2022.
EUR/USD reaction
The price of the EUR/USD has risen 10 pips after the data to the 1.0952 area, placing it close to the highs of the day marked in the Asian session at 1.0953. At the time of writing, the pair is trading above 1.0949, gaining 0.10% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
