Industrial orders in Germany fell by 1.5 percent in October



Today, Thursday, data from the Federal Bureau of Statistics showed that orders decreased by 1.5 percent compared to the previous month adjusted for seasonality and in light of calendar factors.

A Reuters poll of analysts had expected a two percent drop.

The decline is the result of a 7.6 percent decline in machinery and equipment manufacturing activity on a monthly basis and a 3.7 percent decline in the automotive industry.

On the other hand, orders for the production of basic metals increased by 10.2 percent on a monthly basis and in the production of computers, electronics and optical products by eight percent compared to the previous month.

Excluding tiered orders, new orders rose 0.1 percent from the previous month.

According to the statistics office, a less volatile quarter-on-quarter comparison showed that total new orders increased by 2.7 percent in the August-October period compared to the previous quarter.

Domestic orders fell 5.3 percent and total foreign orders rose slightly by 0.8 percent, while new orders from the eurozone fell 7.6 percent and orders from outside the country rose. euro zone 6.3 percent.





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