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