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European Economic News

German Factory Orders Contract In September

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Germany's factory orders contracted unexpectedly in September largely due to a fall in domestic demand, figures from Destatis showed Monday.

Factory orders fell 0.6 percent in September from August, when it grew by revised 0.9 percent. Orders were forecast to grow 0.2 percent. According to previous report, orders had expanded 1 percent in August.

Domestic orders fell 1.1 percent and foreign orders decreased 0.3 percent on the previous month. New orders from the euro area dropped 4.5 percent, while demand from other countries grew 2.5 percent.

Excluding major orders in manufacturing, new orders grew 1 percent in September from prior month.

Turnover in manufacturing dropped 1.2 percent on the previous month, reversing a revised 4.2 expansion posted in August.

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