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- German factory orders unexpectedly fell in October
German factory orders unexpectedly fell in October
Federal Statistical Office (Destatis) said that price-adjusted new orders in manufacturing had decreased in October 2019 a seasonally and calendar adjusted 0.4% on the previous month. Economists had expected a 0.3% increase. For September 2019, revision of the preliminary outcome resulted in an increase of 1.5% compared with August 2019 (provisional: +1.3%). Price-adjusted new orders without major orders in manufacturing had decreased in October 2019 a seasonally and calendar adjusted 1.4% on the previous month.
Domestic orders decreased by 3.2% and foreign orders rose 1.5% in October 2019 on the previous month. New orders from the euro area were up 11.1%, new orders from other countries decreased 4.1% compared to September 2019.
In October 2019 the manufacturers of intermediate goods saw new orders increase by 0.7% compared with September 2019. The manufacturers of capital goods showed decreases of 1.1% on the previous month. For consumer goods, an increase in new orders of 0.3% was recorded.
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