German factory orders drop by a bigger-than-expected 4% in September

0
15

New orders in Germany’s manufacturing sector fell sharply and by more than forecast in September reflecting weakening external demand for goods in a context of rising input costs and high energy prices.

Factory orders fell 4.0% on month, data from the German statistics office Destatis showed Friday. The decrease was considerably steeper than forecast by economists polled by The Wall Street Journal, who expected orders to fall by 0.5%.

The German statistics office revised new orders data for August. Following the revision, orders fell 2.0% on month, instead the 2.4% decline first estimates showed.

Domestic orders increased by 0.5% while foreign orders were down 7.0% on month. New orders from the eurozone decreased 8.0%, while new orders from other countries fell by 6.3% compared with August, Destatis’ data showed.

The producers of capital goods recorded a decrease of 6.0% month-on-month and producers of intermediate goods saw a fall in new orders of 3.4%. Regarding consumer goods, orders rose by 7.2% on month, Destatis said.

Compared with September 2021, new orders fell by 10.8%. The volume of new orders in September 2021 was exceptionally high, Destatis noted.

Write to Maria Martinez at maria.martinez@wsj.com

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMinorities make up smaller proportion of cannabis executives, but women eke out tiny gain
Next articleDow Jones Newswires: Telefonica backs target, dividend as it brings in $10.08 billion in revenue

LEAVE A REPLY

Please enter your comment!
Please enter your name here