German industrial orders bounce back

German industrial orders rebounded in November after a sharp drop in October, official data showed Thursday, despite persistent shortages in raw materials and components weighing on the sector.

The indicator, which gives a foretaste of industrial production, climbed by 3.7 per cent in November over the previous month, having fallen by 5.8 per cent in October, according to revised figures from the federal statistics agency Destatis.

The figures were a "positive impulse for the economic outlook", the economy ministry said in a statement, while noting that "economic activity continues to be hampered by supply bottlenecks".

The country's flagship auto industry saw orders increase by seven per cent in November.