The volume of industrial orders in Germany fell 6.9% in October

The statistics on the volume of industrial orders in Germany turned out to be significantly worse according to forecast in October. The Ministry of National Economy announced its fall on a monthly basis by 6.9%. Analysts surveyed predicted a decline of only 0.5%. Internal orders showed positive dynamics in October. It grew by 3.4%. European countries orders decreased by 3.2%. At the same time, orders for German industrial products from worldwide countries fell by 18.1%. The volumes of industrial orders for capital goods and intermediate products decreased by 10.7% and 2.7%, in the reporting month respectively. Consumer goods orders for rose 4.3% month-on-month. Compared to October of the previous year, the volume of industrial orders decreased by 1% in Germany. The negative dynamics was recorded for the first time in the last 12 months. Nevertheless, the figure is 1.7% higher than the volume of orders observed before the pandemic start.

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Arseny Kudrin

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