"There is at least still sufficient demand for goods ‘made in Germany' to keep the industrial engine running in 2012"
- Carsten Brzeski, senior economist at ING Group
German factory orders increased more than expected in December as demand from overseas helped the euro zone's largest economy to weather the debt crisis. Orders rose 1.7 per cent, after declining 4.9 per cent in November, said the Economy Ministry on Monday.
"It is too early to call this a rebound," said Carsten Brzeski, senior economist at ING Group in Brussels. "However, there is at least still sufficient demand for goods ‘made in Germany' to keep the industrial engine running in 2012."
"We're seeing stabilization on all fronts," said Jana Meier, an economist at HSBC Trinkaus & Burkhardt AG in Dusseldorf, Germany. "The risk for the German economy is that governments across the euro area implement additional austerity measures."
© Dukascopy Bank