German manufacturing orders beat expectations in OctoberStaff Writer | December 7, 2016
German manufacturing orders rose a lot more than expected in October, according to Destatis.
Germany Orders for investment goods were up 7.2%
Domestic orders advanced by 6.3% and foreign orders were 3.9% higher than the previous month, with news orders from the euro area unchanged and new orders from other countries up 6.3% compared to September. On the year, orders were up 6.3%.
Orders for investment goods were up 7.2%, with demand for basic goods up 1.8% and consumer goods up 0.5%. Domestic demand rose 6.3% and export orders rose 3.9%. ■