New orders at German factories saw a slight increase in September, surpassing expectations. According to data released on Monday by the German statistics office Destatis, manufacturing orders were 0.2% higher compared to the previous month. This positive development defied predictions by economists polled by the WSJ, who had expected a 1.5% decline.
Destatis also revised the August figures, indicating a 1.9% increase in orders, down from the previously estimated 3.9% rise. The overall growth in September was attributed to significant large orders. When excluding these large-scale orders, the figure showed a 2.2% decrease for the month. Notably, machinery and equipment orders played a crucial role in driving the overall growth, experiencing an impressive rise of 8.5%.
