Germany's factory orders up 1.1% month-on-month in September

Factory orders up in September thanks to automotive industry, manufacture of electrical equipment, but posts annual decline of 4.3%

By Gokhan Ergocun

ISTANBUL (AA) - New orders in the German manufacturing industry posted a slight gain of 1.1% on a monthly basis in September, the federal statistical authority Destatis said on Wednesday.

The increase stemmed from the month-on-month increases seen in the automotive industry (3.2%) and the manufacture of electrical equipment (9.5%).

The growth in new orders for the manufacture of other transport equipment with 7.5% also had a positive effect.

By contrast, a decline in new orders for the manufacture of fabricated metal products, 19%, dragged down overall performance.

Real turnover in manufacturing in September was down 2.1% in the previous month.

Meanwhile, factory orders decreased 4.3% year-on-year.

On a yearly basis, the turnover in manufacturing was 2.7% lower.

Kaynak:

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