Germany September industrial orders -4.0% vs -0.5% m/m expected

  • Latest data released by Destatis - 4 November 2022
  • Prior -2.4%; revised to -2.0%

New orders in manufacturing slumped heavily at the end of Q3 and even if you exclude large-scale orders, there was a decrease of 3.9%. The bulk of the drop stemmed from a decline in foreign orders (-7.0%) while domestic orders (+0.5%) increased slightly on the month. That's quite a poor sign of demand conditions, if anything else.

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