Germany factory orders jump 4.3% in January – ministry

05 March 2010 19:44  [Source: ICIS news]

TORONTO (ICIS news)--Germany's industrial factory orders rose 4.3% in January from December, well ahead of market expectations, the country’s economics ministry said on Friday.

Economists polled by a media group had expected a 1.3% increase for January.

The increase follows a revised 1.6% decline in December from November.

The ministry said that January’s growth more than offset December’s decline, indicating that industrial production in Europe’s largest economy continued to grow.

On a two-month sequential comparison – December/January compared with October/November – orders rose 1.8%. Compared with December/January a year ago, orders rose 13.3%.

Germany’s 2009 fourth-quarter chemical production rose 5.3% from the 2008 fourth quarter, chemical producers trade group VCI said earlier this week.

However, compared with its pre-financial crisis performance, Germany’s chemical production was still down 7.0% in the 2009 fourth quarter, the group said.

The group maintained its production growth projection of 5.0% for 2010, following a very weak 2009 when production declined 10.0% from 2008, it said.

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