Germany factory orders surge to 6-year high

German industrial orders surged to a more than six-year high in December adding to signs that Europe's biggest economy entered the new year on an upbeat note, dpa reported.
Factory orders jumped month-on-month by a more-than-forecast 4.2 per cent, with a slump in the euro helping to drive foreign demand, data released by the Ministry of Economics showed. The jump cancelled out a 2.4-per-cent drop in November.
New orders in December climbed to their highest level since April 2008 as the nation's economy rebounded from a weak patch in the middle of last year triggered by global tensions, in particular because of the conflict in eastern Ukraine.
German business confidence rose for the third consecutive month in January to hit a six-month high, the Munich-based Ifo economic institute said last month.
Data to be released on Friday by the ministry is forecast to show German production expanding month on month by 0.4 per cent in December after contracting by 0.1 per cent in November.