Another flat indicator in Germany

(Boursier.com) — New worrying statistic for the German economy. Industrial orders fell unexpectedly in October, highlighting the extent to which the manufacturing sector of Europe’s largest economy is struggling to recover. According to data from the Federal Statistical Office, orders fell by 3.7%, compared to a gain of 0.2% expected by the market. The September reading was, however, revised upwards, from 0.2% to 0.7%.

The October decline was due to a 13.5% drop in orders in machinery and equipment, which could not offset a 20.2% rise in new orders in the manufacturing of transportation equipment, notably planes, ships and trains, specifies Destatis.