Financial News: German Factory Orders Rise Unexpectedly In September

German Factory Orders Rise Unexpectedly In September

11/06/2023 - 02:19:00 (RTTNews)

(RTTNews) - Germany's factory orders grew unexpectedly in September, data from Destatis showed on Monday.

New orders climbed 0.2 percent on a monthly basis in September, confounding expectations for a fall of 1.0 percent.

The statistical office revised the August growth rate to 1.9 percent from 3.9 percent largely due to incorrectly reported data in the manufacture of data processing equipment, electronic and optical products.

Excluding large orders, new orders decreased 2.2 percent from the previous month.

At the same time, the annual decline in overall new orders slowed to 4.3 percent from 6.3 percent in the in August.

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