Germany’s factory orders declined unexpectedly in September due to a notable decrease in foreign demand, data from Destatis revealed Thursday.
Factory orders fell 1.7 percent month-on-month in September, confounding expectations for a 1 percent rise. This was the third consecutive fall in orders. Orders had declined 1.8 percent in August and 2.2 percent in July.
Domestic orders slid 0.6 percent and foreign orders dipped 2.4 percent. As regards the direction of trade in foreign transactions, new orders from the euro area were down 6.7 percent, while that from other countries increased 0.7 percent.
The manufacturers of intermediate goods registered increases in new orders of 0.4 percent, while the manufacturers of capital goods reported decreases of 2.9 percent. For consumer goods, a decrease in new orders of 0.4 percent was logged.
The material has been provided by InstaForex Company – www.instaforex.com