German Industrial Orders Turn Positive in September
Industrial orders in Germany posted a surprising jump during September, boosted by a rise in domestic demand. According to data released by Destatis, new industrial orders climbed 1.3% MoM in September after declining by 0.4% during August.
Domestic orders rose by 1.6% during this period, while international orders also registered an uptick by 1.1%. On the downside, however, new orders from the Euro area declined by 1.8%. Although, this decline was compensated by the 3% uptick in international orders from other regions.
New orders for the manufacture of intermediate goods declined by 1.5% MoM during September, but the manufacture of capital goods grew by 3.1% during the corresponding period. Consumer goods’ manufacture climbed 0.8% higher during this month.
The Euro is yet to react to this news, with EUR/USD trading somewhat steady around 1.107 at the time of writing.
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