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German Factory Orders Unexpectedly Rise For Third Month

Germany's manufacturing orders increased for a third straight month in October, defying expectations for a decline, preliminary data from the Federal Statistical Office showed on Thursday.

Factory orders grew 0.3 percent from September, while economists' had forecast a 0.4 percent fall.

September's 0.3 percent gain was revised to a 0.1 percent increase. Orders rose 2.3 percent in August.

Domestic orders fell 3.2 percent, while foreign bookings grew 2.9 percent. Demand from Eurozone increased 7.3 percent and orders from others countries increased 0.3 percent.

On a year-on-year basis, factory orders declined 2.7 percent in October, which was less severe than the 3.1 percent slump economists had predicted.

The pace of decrease for September was revised to 2.6 percent from 2.2 percent.

Manufacturing turnover grew a seasonally adjusted 1 percent month-on-month in October. September's decline was revised to 1 percent from 1.1 percent.

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