Berlin: New orders in the German manufacturing industry experienced a monthly increase of 5.6% in November, surpassing market predictions, as reported by the federal statistical authority Destatis on Thursday. This rise follows an upwardly revised 1.6% increase in October and contradicts market forecasts of a 0.9% decline for November.

According to Anadolu Agency - English, the growth was primarily driven by significant month-on-month increases in the manufacture of metal products, which saw a 25.3% rise, and in other vehicle construction, including aircraft, ships, trains, and military vehicles, which climbed by 12.3%. Additionally, moderate increases in sectors such as electrical equipment, mechanical engineering, and data processing equipment, electronic, and optical products contributed positively to the overall result.

The report further indicated that orders for capital goods rose by 7.9% compared to the previous month, while intermediate goods orders increased by 1.0%, and consumer goods orders saw an 8.2% rise. Foreign orders grew by 4.9%, with Eurozone orders increasing by 8.2% and those from outside the Eurozone rising by 2.9%. Domestic orders also witnessed a 6.5% increase.

Year-on-year, factory orders surged by 10.5%, marking a significant growth in the German manufacturing industry.