Institutions: Sluggish German factory orders may be boosted by Trump's tariffs.

On December 5th, Pan Sen’s macroeconomic economist Melanie Debono said that German factory orders fell at the beginning of the fourth quarter, but if Trump’s promised trade tariffs lead to early orders, German factory orders may rise. In October, orders fell by 1.5% month-on-month, while orders rose by 7.2% month-on-month in September. However, excluding bulk orders, order volume remained stagnant. However, if the Atlantic side increases orders before the US imposes import tariffs next year, the situation where German orders remain stagnant may improve. But if the November survey is credible, the probability of this happening may drop. So far, the November survey has shown little sign of this change.