German factory orders rose 3.9% in August

MADRID, 6 Oct.

German factory orders rose 3.9% in August


New orders from factories in Germany recorded a rebound of 3.9% last August, after the 11.3% drop observed in July, as reported this Friday by the German Federal Statistical Office (Destatis).

Likewise, new orders, excluding large-scale orders, also increased by 3.9% in August compared to the previous month.

In year-on-year terms, new orders from German industry experienced a decline of 4.2% in August, compared to the 10.1% decline recorded the previous month.

The German statistical office highlighted that much of the strong increase in new orders in August was due to the performance of the computer, electronic and optical products manufacturing sector (37.9%). On the contrary, the automotive industry recorded a slight drop in orders (-0.7%).

In August, new orders increased compared to the previous month in both the intermediate goods and consumer goods sectors (9.3% and 8.8%, respectively), while there was a 0.1% increase in the capital goods sector.

Foreign orders increased by 3.9%, including an increase in new orders from the euro zone and the rest of the world of 3.9%. Domestic orders increased by 4%.