October Germany's industrial orders grew by 0.8%, beating IFX's forecast

In October, German industrial orders rose by 0.8% month-on-month, according to data from the German Economy Ministry. Analysts, according to Trading Economics, had expected an increase of 0.1% on average.

In September, according to revised data, orders from German industrial enterprises decreased by 2.9%, and not by 4%, as reported earlier.

Domestic orders in October decreased by 1.9% compared to the previous month, foreign orders increased by 2.5%. Orders from eurozone countries increased by 2.6%, from other countries – by 2.5%.

Orders for capital goods increased by 3.2%, for intermediate goods – decreased by 1.4%, for consumer goods – fell by 6.3%.

The total volume of orders of German industrial enterprises decreased by 3.2% compared to October 2021. In September, the decline in annual terms amounted to 9.8%.

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