Germany Factory Orders Rise In October

Canadian Manufacturing

Germany factory orders expanded 0.5 percent in October from the preceding month on a seasonally adjusted basis, according to a release from Federal Statistical Office.

German domestic orders grew 0.4 percent while foreign orders advanced 0.5 percent. However, orders from eurozone dropped 1.2 percent whereas fresh orders from the rest of the gold added 1.6 percent from the preceding month.

As far as the intermediate goods manufacturers, the release pointed out that it was 0.4 percent weaker in October than September. However, orders for capital goods grew 0.9 percent whereas consumer goods sector saw its orders increasing 0.6 percent.

For the third straight month, order activity topped the high level of incoming orders that struck in November 2007 before the economic and financial crisis struck the world. For September, there was an increase of 1.2 percent following the revision.

The official release revealed, “According to preliminary figures, adjusted sales in October 2017 were 2.1% lower than in the previous month on a seasonally and working-day adjusted basis. For September 2017, there was a decrease of 1.2% compared to August 2017 (provisional value: – 1.8%).”

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