German industrial orders up

New orders for German machinery and plant rose 14 per cent in December from the same month a year earlier, the German Engineering Federation VDMA, said Wednesday.

VDMA said domestic orders had advanced nine per cent, while foreign orders jumped 16 per cent, despite the euro's rise in value against major foreign currencies. The association's index for orders in the three months from October to December, which is less volatile than the monthly indicator, was 13 per cent higher, with domestic orders up six per cent from the previous year and foreign orders increasing 18 per cent.