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German industrial orders rise unexpectedly in September
November 6, 2017 / 7:01 AM / 12 days ago

German industrial orders rise unexpectedly in September

BERLIN, Nov 6 (Reuters) - German industrial orders rose unexpectedly in September, driven by strong demand for machines, cars and other capital goods, data showed on Monday, suggesting Europe’s biggest economy ended the third quarter on a solid footing.

Factories registered a 1.0 percent increase in orders after contracts for ‘Made in Germany’ goods rose by an upwardly revised 4.1 percent in August, data from the Economy Ministry showed.

The reading easily beat the Reuters forecast for a 1.5 percent fall.

A data breakdown showed domestic demand edged down 0.1 percent while foreign orders rose 1.7 percent, propelled by a 6.3 percent increase from euro zone customers.

The headline increase was driven by a rise in demand for capital goods, with orders from euro zone clients surging 14.1 percent. (Reporting by Michael Nienaber; Editing by Tom Sims)

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