New orders for Germany's electrical industry up 13 pct YOY in December

Source: Xinhua| 2021-02-09 20:57:14|Editor: huaxia

BERLIN, Feb. 9 (Xinhua) -- New orders for the German electrical industry continued to recover at double-digit rates in December, rising by 13.0 percent year-on-year, the German Electrical and Electronic Manufacturers' Association (ZVEI) announced on Tuesday.

"This was the fourth increase in a row," said ZVEI chief economist Andreas Gontermann in a statement. The increase in domestic orders was more than four times higher than the rise in foreign orders.

While orders from customers in the eurozone increased by almost 20 percent in December, orders from business partners in non-European Union (EU) countries fell slightly by 1.2 percent, ZVEI noted.

For the entire year 2020, the German electrical and electronic industry recorded a 3.3-percent decline in orders.

The industry expects production to increase by five percent in 2021 and a return to pre-crisis levels in 2022. Enditem