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Germany Factory Orders Rise More Than Expected

Germany's factory orders grew more than expected in September on rising domestic and foreign demand, data from Destatis revealed Wednesday.

Factory orders grew 1.3 percent month-on-month, reversing a 0.4 percent fall in August. Orders were forecast to climb 0.5 percent.

Domestic orders increased 1.6 percent on month and foreign demand advanced 1.1 percent.

Data showed that new orders from the euro area were down 1.8 percent, while that from other countries increased 3 percent compared to August.

On a yearly basis, new order declined at a slower pace of 5.4 percent after falling 6.5 percent a month ago.

Further, turnover in manufacturing declined 1.4 percent on month, in contrast to an increase of 1.3 percent in August.

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