Economy Incoming orders in German industry fall less than feared
Orders in German industry fell again slightly in October after a comparatively strong increase in the previous month. Orders in the manufacturing sector fell by 1.5 percent month-on-month.
05.12.2024, 09:13
SDA
This was announced by the Federal Statistical Office (Destatis) on Thursday. Analysts had expected a stronger decline. However, incoming orders in the previous month were significantly better than previously reported. The Federal Office revised the increase in September significantly upwards to 7.2 percent. Previously, an increase of 4.2 percent had been reported.
In a year-on-year comparison, the development in October was also better than expected. Here, the Federal Office reported an increase of 5.7%.
Large orders also distorted the trend in October. According to the Federal Office, orders would have been 0.1% higher than in the previous month if large orders had not been taken into account.
In a longer-term comparison of three months, the overall trend was positive. In the period between August and October, orders were 2.7% higher overall than in the previous three months.
