12/5/2019, 8:00 AM (Source: TeleTrader)
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German factory orders down 0.4% in October

Price-adjusted new factory orders in Germany decreased by 0.4% in October compared to the previous month, the Federal Statistical Office (Destatis) said in a report released on Thursday. On an annual basis, new orders dropped 5.5% from the same month in 2018.

Domestic orders in October were down by 3.2%, while foreign orders increased 1.5% compared to September. Meanwhile, new orders from the euro area in surged 11.1% and new orders from other countries fell by 4.1% month on month.

In October, new orders of capital goods contributed most to the decline as they slid 1.1% month on month. Meanwhile, intermediate goods were up by 0.7% and consumer goods orders increased by 0.3%.

Breaking the News / NP