Germany's factory orders up, industrial production down in Oct

According to the data released by Destatis, the country’s factory orders rose unexpectedly in October on the back of higher demand from domestic and non-euro markets.

The data revealed that the country’s industrial orders were up by 0.5% in October, exceeding expectations calling for a 0.2% rise.

Meanwhile, Germany’s factory order growth declined to 6.9% in October from September on a yearly basis while domestic and foreign orders rose 0.4% and 0.5%, respectively in October.

However, the country’s industrial production decreased unexpectedly in October, according to data from Destatis.

Industrial production fell 1.4% month-on-month in October, falling behind the expectations calling for a 0.9% rebound.

The data also showed that Germany’s capital goods production and consumer goods output fell 2.7% and 2.6% respectively while its construction output showed a decrease of 1.3%.