Industry: Orders rise by 4.4 percent in September
Economists see a chance for an end to the stagnation in German industry. At the same time, they continue to warn of disadvantages in terms of location and high energy prices.
German industry received more orders in September, marking a slight recovery from the order decline in the previous month, according to the Federal Statistics Office (Destatis). The new business increased by 4.4 percent, slightly above the 4.8 percent forecast by Reuters News Agency experts. Excluding large orders, September's order volume was 5.1 percent higher compared to the previous month.
This resurgence follows a revised 10.1 percent contraction in new business the month before. Commerzbank Chief Economist Jörg Krämer sees this as a positive surprise: "Orders rose strongly in September even without the volatile large orders, suggesting the likelihood of a turnaround in the sideways trend of the past year and a half."
Over the longer three-month period, order volume in the third quarter was 0.2 percent higher than the previous quarter. Marc Schattenberg, an economist at Deutsche Bank Research, believes that with existing order inventories in many industrial sectors, the foundation for a quick recovery across the manufacturing sector is now in place.
However, the structural change in key industries, such as the automotive sector, remains a significant challenge.
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