German factory orders up again in October

Business | 6 Dec 2018 3:59 pm

German factory orders edged up 0.3 percent in October as a large increase in demand from other countries in the eurozone outweighed a fall in domestic orders.

The month-on-month rise reported Thursday by the Economy Ministry was the third consecutive increase in orders, an important indicator for Europe’s biggest economy. They were up 0.1 percent in September and 2.3 percent in August.

In October, orders from fellow members of the 19-nation eurozone rose 7.3 percent and those from other countries increased 0.3 percent. However, orders from inside Germany dropped 3.2 percent.

Germany’s gross domestic product declined 0.2 percent in the third quarter compared with the previous three-month period, due in part to bottlenecks in getting new cars certified under tougher emissions standards.-AP

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