FOREX TradingCharts.com

Financial News: Germany Factory Orders Decline More Than Expected

Germany Factory Orders Decline More Than Expected

12/06/2021 - 06:18:00 (RTTNews)

(RTTNews) - Germany's factory orders declined more-than-expected in October on weak foreign demand, data released by Destatis showed on Monday. Factory orders decreased 6.9 percent month-on-month in October, reversing a 1.8 percent rise in September. Economists had forecast a moderate fall of 0.5 percent.

Nonetheless, excluding major orders, factory orders dropped only 1.8 percent from the previous month.

Domestic orders went up 3.4 percent, while foreign orders declined 13.1 percent in October. New orders from the euro area fell 3.2 percent. The fall in new orders from other countries amounted to 18.1 percent in October.

Demand for intermediate goods was down 2.7 percent and that of capital goods declined sharply by 10.7 percent. For consumer goods, orders went up by 4.3 percent.

The economy ministry said the second sharp decline in incoming orders within the last three months has put a further damper on the economic outlook.

It is becoming increasingly apparent that the order boom in manufacturing has come to an end, at least for the time being, Ralph Solveen, an economist at Commerzbank, said.

The economist said the increase in industrial production that is possible emerging for the fourth quarter is unlikely to be sufficient to offset the pandemic-related slump in sales in some service sectors, with the result that real GDP is likely to shrink by the end of the year.

On a yearly basis, factory orders slid 1 percent, in contrast to the 10.3 percent rise a month ago.

Further, data showed that manufacturing turnover grew 3.6 percent on month, following a revised 0.1 percent drop in September. Compared with October 2020, turnover was 2.6 percent lower.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


China GDP Growth Slows In Q4; PBoC Cuts Lending Rate (02 hr(s), 21 min(s), 58 sec(s) ago)
(RTTNews) - China's economy grew at a slower pace in the fourth quarter of 2021 amid weak prop ...Full Story»

India Trade Deficit Widens In December (17 min(s), 02 sec(s) ago)
(RTTNews) - India's overall trade deficit widened in December with imports rising fast than ex ...Full Story»

U.S. Consumer Sentiment Drops More Than Expected Due To Inflation Worries (46 min(s), 02 sec(s) ago)
(RTTNews) - Inflation concerns have contributed to a bigger than expected drop in U.S. consumer se ...Full Story»

U.S. Business Inventories Jump 1.3% In November, More Than Expected (29 min(s), 02 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed business inventories in ...Full Story»

U.S. Industrial Production Unexpectedly Edges Down 0.1% In December (41 min(s), 02 sec(s) ago)
(RTTNews) - Partly reflecting a sharp pullback in utilities output, the Federal Reserve released a ...Full Story»

U.S. Import Prices Unexpectedly Dip Amid Sharp Pullback In Fuel Prices (20 min(s), 02 sec(s) ago)
(RTTNews) - Import prices in the U.S. unexpectedly showed a modest decrease in the month of Decemb ...Full Story»

U.S. Retail Sales Unexpectedly Tumble Amid Higher Prices, Shortages (02 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday unexpectedly showed a steep dro ...Full Story»

U.S. Import Prices Unexpectedly Dip 0.2% In December (32 min(s), 02 sec(s) ago)
(RTTNews) - Import prices in the U.S. unexpectedly showed a modest decrease in the month of Decemb ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

China GDP Growth Slows In Q4; PBoC Cuts Lending Rate

01/17/2022 - 00:49 AM (RTTNews)
(RTTNews) - China's economy grew at a slower pace in the fourth quarter of 2021 amid weak prop ...Full Story>>

India Trade Deficit Widens In December

01/14/2022 - 11:28 AM (RTTNews)
(RTTNews) - India's overall trade deficit widened in December with imports rising fast than ex ...Full Story>>

U.S. Consumer Sentiment Drops More Than Expected Due To Inflation Worries

01/14/2022 - 10:57 AM (RTTNews)
(RTTNews) - Inflation concerns have contributed to a bigger than expected drop in U.S. consumer se ...Full Story>>

U.S. Business Inventories Jump 1.3% In November, More Than Expected

01/14/2022 - 10:40 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Friday showed business inventories in ...Full Story>>

U.S. Industrial Production Unexpectedly Edges Down 0.1% In December

01/14/2022 - 09:52 AM (RTTNews)
(RTTNews) - Partly reflecting a sharp pullback in utilities output, the Federal Reserve released a ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.