By Nina Adam
FRANKFURT--German manufacturing orders pulled back in November after rising strongly in October, the economics ministry said Friday, noting that the overall trend in orders is still pointing up.
Total manufacturing orders, adjusted for seasonal swings and calendar effects, fell 2.5% in November from October. Economists polled by The Wall Street Journal had forecast a 1.5% drop. The ministry attributed the result to "a weak development in bulk orders."
"Despite the decline in November, the results point to a very favourable trend in orders... and a pickup in industrial activity in the winter-term," the ministry said.
In annual terms, total orders for Germany's important manufacturing sector surged 4.1% from November 2015and gained 3.0% when taking account of the number of working days in each month.
In a separate news release, Germany's Destatis statistics body said that retail sales in November dropped 1.8% from October. The data take account of inflation and seasonal effects.
For 2016 as a whole, turnover in Germany's retail sector rose by about 2% from 2015, Destatis said in a preliminary estimate. A buoyant labor market and rising wages have been fanning consumer spending in Europe's largest economy.
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(END) Dow Jones Newswires
January 06, 2017 02:38 ET (07:38 GMT)
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