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German factory orders climb 2.1% in November

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Investing.com - German factory orders rose more-than-expected in November, fuelling optimism over the health of the euro zone's largest economy, official data showed on Wednesday.

In a report, Deutsche Bundesbank said factory orders surged by a seasonally adjusted 2.1% in November, surpassing expectations for a gain of 1.5%. Factory orders fell by 2.1% in October, whose figure was revised from a previously reported drop of 2.2%.

Year-over-year, German factory orders increased at an annualized rate of 6.8% in November from a year earlier, beating forecasts for a 6.1% gain, after rising at a rate of 2% in October.

Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.24% to trade at 1.3584.

Meanwhile, European stock markets were lower. The EURO STOXX 50 fell 0.2%, France's CAC 40 dipped 0.25%, Germany's DAX inched down 0.25%, while the FTSE 100 declined 0.4%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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