Thursday, October 2, 2014   

German manufacturing sales down in December
(02-10 17:37)

German manufacturing sales declined in December following an increase in the previous month, according to official data released Monday.
Figures from the German Federal Statistical Office showed that, adjusted for calendar, seasonal and inflation variations, sales in the manufacturing sector shrank by 1.5 percent in December compared with the previous month. In November, the sales rose by 2.4 percent, Xinhua reports.
However, demands from the euro zone remained positive, with sales up slightly by 0.8 percent, according to the figures, which also showed that German engineering products remained welcome, especially among foreign customers.
Compared with the previous year, German manufacturing sales grew by 2.8 percent. Domestic sales went up by 1.3 percent, while the turnover in foreign markets rose by 4.5 percent.
For the whole year of 2013, German manufacturing sales declined by 0.2 percent. Domestic turnover went down by 1.6 percent, while foreign sales were up by 1.4 percent.
Data released earlier February showed that both industrial output and industrial orders declined in December. Economists said it reflected an uneven recovery of the largest European economy.
The German economy was expected to accelerate its growth in 2014, following a slight expansion of 0.4 percent last year. Investment was expected to be another driving force besides domestic consumption, given that external uncertainties were fading and the interest rate remained at record low.   
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