German factory orders dip in November, but trend positive

Germany’s Economy Ministry says factory orders in Europe’s biggest economy slipped by 0.4 per cent in November after three months of gains. (Pixabay photo)

BERLIN — Germany’s Economy Ministry says factory orders in Europe’s biggest economy slipped by 0.4 per cent in November after three months of gains. It says the dip was largely due to fluctuations in bulk orders and the overall trend remains positive.

November’s month-on-month decline followed gains of 0.7 per cent in October and 1.3 per cent in September. The ministry said Monday that there was a 0.7 per cent gain in orders from other nations in the 19-nation eurozone, but domestic demand was off 0.4 per cent and there was a 1.2 per cent drop in orders from countries outside the eurozone.

The German economy is in good shape, with surveys showing business confidence close to a record high and economic data supporting the optimism. A preliminary figure for 2017 economic growth is due on Thursday.