- Germany's Economy Ministry
German factory orders increased for the first time in four months, rising more than economists expected, as demand for investment and consumer goods advanced due to an economic recovery in the country and the Euro zone. Industrial orders in the currency bloc's number one economy surged 1.8% in October following a revised 0.7% decline a month earlier, according to the Economy Ministry. In yearly terms, the gauge declined 1.4% in the reported month, after posting a revised 0.7% decrease in the previous month, measured on a non-seasonally adjusted basis. All-time low unemployment, a solid wage outlook and increased immigration is boosting private consumption in Germany that is expected to lead to above-potential mid-term growth, the Bundesbank estimated in its latest monthly report. Meanwhile, the Euro area recovery is benefiting from unprecedented stimulus by the European Central Bank, which lowered its deposit rate to –0.3% and expanded the size of its asset-purchase programme.
Meanwhile, business activity in Spain's industrial sector declined in October, as the corresponding gauge declined 0.3% year-on-year following a 3.8% surge in the preceding month.
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