German factory orders blow past forecasts

|By:, SA News Editor

German factory orders surged 3.3% on month in September, rebounding from a fall of 0.3% in August and slaying expectations for growth of 0.5%.

On year, orders jumped 7.9% after climbing 3.1% a month earlier.

Foreign bookings rose 6.8% in September, with eurozone demand climbing 9.7%, although domestic orders fell 1%. Still, foreign demand remains rather weak, Germany's Economy Ministry says. "The data confirm the picture of an increasingly domestically driven economic recovery."

The data adds to PMI readings that show continued growth in overall German business activity.

The euro spikes and is +0.2% vs the dollar, while the Dax is +0.4%.

ETFs - Stocks: FGM, EWG, GERJ, EWGS, DBGR. Bonds: BUNL, BUNT, BUND, GGOV. Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX