German Industrial Orders Rose More Than Expected in October

Data on Friday showed that German industrial goods orders increased more than expected on a monthly basis in October, raising hopes that the manufacturing sector in Europe’s largest economy started the fourth quarter of the year with a strong performance.

Data published by the Federal Statistics Office show that orders for industrial goods increased by 2.9 percent on a revised basis in light of seasonal factors, compared with Reuters’ forecast of a 1.5 percent rise, and after a revised 1.1 percent increase in September.

Figures from the Economy Ministry revealed that domestic orders increased 2.4% on a monthly basis, while orders from abroad rose 3.2%.