Germany's manufacturing industry recorded 0.4 pct less new orders in October
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New orders in Germany′s manufacturing industry decreased 0.4 percent in October compared to the previous month, and 5.5 percent year-on-year, the Federal Statistical Office (Destatis) announced on Thursday.

According to Destatis, domestic orders fell by 3.2 percent in October compared to the previous month, while the total orders from outside Germany increased by 1.5 percent.

New orders from the eurozone increased by 11.1 percent. In contrast, those from other countries fell by 4.1 percent, Destatis noted.

On Monday, an industry survey published by the German Economic Institute (IW) also showed that global uncertainty had "significantly depressed growth prospects" in Germany.

According to IW, "pessimism is spreading in the German economy." For the first time since the global financial market crisis in 2009, the "balance of positive and negative export expectations" was down 13 percentage points.

A recent industry survey by the German ifo Institute also showed that the order volume of Germany's industry in November declined as the ifo index fell from minus 4.0 to minus 9.3 points.
"The recession in the German industry is continuing," ifo Institute announced on Thursday.

Source: Xinhua
2019-12-06

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