Economic news

German factory orders gain unexpectedly, soothing growth worries

September manufacturing orders of Germany showed sudden growth, buoyed by bulk orders and bigger demand from euro-zone consumers and at home, today’s report indicated, signaling that the country was expanding firmly going into the fourth quarter.

The increase in orders was 0.3% following a revised higher 2.5% of August, said the data from the Federal Statistics Office. This result exceeds market predictions of a 0.6% decline.

In total the July-September quarter had factory orders decrease 1% due to overseas demand, the Economy Ministry’s data shows, implying that the sector had little impact on economic growth as a whole in the period.

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