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Financial News: German Factory Orders Rise Less Than Expected

German Factory Orders Rise Less Than Expected

11/05/2020 - 02:11:00 (RTTNews)

(RTTNews) - Germany's manufacturing new orders growth in September was much weaker than expected, figures from the statistical office Destatis showed on Thursday.

Factory orders rose a seasonally and calendar adjusted 0.5 percent month-on-month in September, while economists had forecast a 2 percent increase.

The pace of growth slowed sharply from August's 4.9 percent, which was revised up from 4.5 percent.

Excluding major orders, real new orders in manufacturing rose 4.5 percent from the previous month.

On a year-on-year basis, factory orders decreased a calendar adjusted 1.9 percent in September after a 1.7 percent fall in August.

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