German Industrial Orders unexpectedly rose in January.
The German Federal Statistics Office said on Tuesday that industrial orders increased by 1 percent during the month, according to seasonally adjusted data and on a calendar basis.
Analysts polled by Reuters had expected orders to fall 0.9 percent in January.
Factory orders in Germany rose more than expected in December 2022, recording 3.2 percent.
Factory orders in Germany fell 5.3 percent month-on-month in November, on the back of a sharp decline in foreign demand.
Factory orders are one of the most important indicators of Europe’s largest economy.
The German economy recorded a slowdown in 2022, but its performance was better than expected, with GDP rising by 1.9 percent despite the crises.
The German economy contracted in the fourth quarter of last year by 0.4 percent, on a quarterly basis, which is more than the initial estimate of -0.2 percent, in a sign of the damage caused by the Ukrainian crisis and high energy prices.
