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

Germany's Factory Orders Rise Unexpectedly In October

12/06/2017 - 02:21:00 (RTTNews)

(RTTNews) - Germany's factory orders increased unexpectedly in October, figures from Destatis revealed Monday.

New orders in manufacturing climbed 0.5 percent month-on-month in October, following a revised 1.2 percent rise in September. Orders were forecast to fall 0.2 percent.

For the third time in a row, order activity exceeded the high level of incoming orders reached in November 2007 before the onset of the economic and financial crisis, Destatis said.

Excluding large orders, new orders dropped 1 percent from the previous month in October.

Domestic orders rose 0.4 percent in October and foreign orders grew 0.5 percent. Incoming orders from the Eurozone declined 1.2 percent, while new orders from the rest of the world increased 1.6 percent.

Manufacturing turnover dropped 2.1 percent month-on-month in October, bigger than September's 1.2 percent fall.

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