The US Department of Commerce registered a significant recovery of new production orders in the US in December, after a month earlier - in November, it reported a sharp drop in new orders, DPA reported, quoted by BTA.

US industrial orders rose 1.8 percent in December from November 2022, when they also fell 1.9 percent on a monthly basis, according to revised data.

Economists had expected manufacturing orders to rise 2.2 percent.

The recovery in industrial orders was driven by a jump in durable goods, which rose 5.6 percent in December compared with a month earlier, when they erased 1.8 percent.

Orders for transportation equipment have been the driver of the recovery.

Meanwhile, non-durable goods orders slowed their contraction from 2.1 percent in November to 1.9 percent in December on a monthly basis.

The Commerce Department also reported that shipments of manufactured goods fell 0.7 percent in December after falling 0.9 percent in November.

Inventories of manufactured goods, however, rose 0.4 percent in the final month of last year.

As inventories rose and supplies fell, the inventory-to-supply ratio rose to 1.49 in December from 1.47 in November.

Industrial production in the EU and the euro area with 2% growth in November 2022.