Urgent.. German factory orders shrink again in November, but they come in better than expected.

Data released on Thursday by the German Federal Statistical Office (Destatis) showed that factory orders in Germany – the largest economy in the Eurozone – fell back into contraction in November after experiencing some recovery in October. The data indicated a 1.2% decline in factory orders in Germany in November compared to October, which was better than market expectations that forecasted a 2% contraction in German factory orders following a growth of 7.2% in October, after an upward revision from 4.2%. Meanwhile, factory orders in Germany recorded a 5.7% increase year-on-year in November, compared to November of the previous year, after the previous reading showed a contraction of 4.2% in October, which had been revised upward from a growth of 1%.