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Industrial orders rise in latest German upside surprise

·1-min read
FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown

BERLIN (Reuters) - Demand for German-made goods defied expectations, rising 2.3% month-on-month in November, the latest in a string of data points showing the Europe's largest economy being unexpectedly resilient in the face of the coronavirus pandemic.

Analysts had forecast that orders for German industrial goods would shrink 1.2%. According to data published by the Statistics Office on Thursday, orders were up even compared to pre-pandemic times at 6.3% above last November's level.

The numbers come two days after November retail sales also surprised on the upside, while jobless numbers also fell unexpectedly in December.

All three sets of data stemmed from before the renewed lockdown the German government imposed in December in response to spiralling coronavirus case numbers.

(Reporting by Thomas Escritt; editing by Thomas Seythal)