(CercleFinance.com) – German industrial orders rebounded more markedly than expected in October, according to data published Tuesday by Destatis.
These orders thus increased by 0.8% in October compared to September, according to the national statistics office, while economists anticipated a small increase of 0.1% from one month to another.
In addition, the decline in September ultimately turned out to be less than what had initially been given, the decline having been revised to 2.9% against -4% in the first estimate.
The figures for October were supported by orders from abroad, which rose by 2.5%, while those from Germany fell by 1.9%.
By item, orders for capital goods increased by 3.2% in October, but those for intermediate goods fell by 1.4% while those for consumer goods fell by 6.3%.
In a note of reaction, analysts at Commerzbank put this timid rebound in industrial orders into perspective, which they believe is part of a clearly downward trend since the start of the year.
‘The dynamics of order intake continues to be clearly oriented downwards’, recalls the German bank.
‘While many companies still have solid order books, production should decline in the coming months, leading to a slight contraction of the German economy in the first half of next year’, predicts the German establishment .
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
