Plus   Neg

German Factory Orders Unexpectedly Fall In October

Germany's manufacturing new orders declined in October, defying expectations for further increase, preliminary figures from the Federal Statistical Office showed on Thursday.

Factory orders fell a seasonally and calendar adjusted 0.4 percent month-on-month following a 1.5 percent increase in September, which was revised from the initially reported 1.3 percent gain. Economists had expected a 0.4 percent gain.

Domestic orders dropped 3.2 percent, while foreign demand grew 1.5 percent. Orders from the euro area surged 11.1 percent, while those from other countries fell 4.1 percent.

Intermediate goods manufacturers logged a 0.7 percent increase in orders, while producers of capital goods reported a 1.1 percent decline. Orders for consumer goods grew 0.3 percent.

Excluding major bookings, manufacturing orders decreased a seasonally and calendar adjusted 1.4 percent from the previous month.

On a year-on-year basis, factory orders dropped 5.5 percent in October after a 5 percent slump in the previous month. Economists were looking for a 4.7 percent decline.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT