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Financial News: Germany's Factory Orders Rise Unexpectedly In September

Germany's Factory Orders Rise Unexpectedly In September

11/06/2017 - 02:25:00 (RTTNews)

(RTTNews) - Germany's factory orders increased unexpectedly in September driven by foreign demand, data from Destatis revealed Monday.

Factory orders grew 1 percent month-on-month in September, but slower than August's 4.1 percent increase. Nonetheless, orders were forecast to drop 1.1 percent.

Excluding major orders in manufacturing, new orders increased 1.3 percent on month in September.

Domestic orders fell 0.1 percent on month, while foreign orders increased 1.7 percent in September. Orders from euro area climbed 6.3 percent and that from other countries dropped 1 percent.

Further, data showed that manufacturing turnover slid 1.8 percent month-on-month, in contrast to a 3.5 percent rise in August.

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