Belfast Telegraph

Home News World

German factory orders rise strongly

German factory orders rose strongly in October in a development that's likely to ease concerns over the state of Europe's largest economy.

The Federal Statistical Office said Friday that October orders were up 2.5% over September. Domestic orders provided the main impetus behind the rise, rising 5.3%. Foreign orders swelled only 0.6%.

The agency also upwardly revised the previous month to show a 1.1% rise.

Germany's economy contracted slightly in the second quarter but avoided recession with meagre 0.1% growth in the third quarter.

UniCredit economist Andreas Rees says it's "too early to push the all-clear button" for the industrial sector, but that the factory order figures, which beat economists' forecast of a 0.5% rise, were a "promising start".

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?


From Belfast Telegraph