Unexpected increase
High increase in orders for German industry
November 6, 2024Reading time: 1 min.
German industry recorded a surprisingly high increase in orders in September. One key industry particularly benefits from this.
A ray of hope for the ailing German industry: Incoming orders in September recovered surprisingly significantly from the setback in the previous month. The number of orders rose by 4.2 percent month-on-month, as the Federal Statistical Office announced on Wednesday in Wiesbaden. Analysts on average had only expected an increase of 1.5 percent.
In the previous month, incoming orders had fallen significantly. However, the Federal Office revised the decline slightly in August – to just 5.4 percent. A slump of 5.8 percent had previously been reported. In a year-on-year comparison, development in September was also better than expected. In this regard, the Federal Office reported an increase of 1.0 percent, after a revised decrease of 3.4 percent in the previous month.
Among other things, the Federal Office reported more orders in the automotive industry. Overall, incoming orders from domestically rose by 3.6 percent and from abroad by 4.4 percent. Incoming orders from the Eurozone increased by 14.6 percent, while orders from outside the Eurozone fell by 1.6 percent.
