German new orders in manufacturing rise in October

The provisional data shows that Germany’s price-adjusted new orders in manufacturing increased in October. According to the Federal Statistical Office, new orders in manufacturing rose 4.9 percent in September, seasonally and working-day adjusted. The preliminary outcome was a drop of 0.3 percent month-on-month. Price-adjusted new orders without major orders in manufacturing rose on a seasonally and working-day adjusted 4.3 percent sequentially in October.

Domestic orders rose 6.3 percent in October, whereas foreign orders were up 3.9 percent sequentially. New orders from the euro zone continued to be the same as compared to the earlier month, whereas new orders from other nations rose 6.3 percent as compared to September. The manufacturers of intermediate goods in October rose 1.8 percent sequentially. Consumer goods registered a rise of 0.5 percent in new orders.

Price-adjusted turnover in manufacturing dropped on a seasonally and working-day adjusted by 1 percent sequentially in October 2016. The corrected figure indicates a drop of 1 percent month-on-month.