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Business News
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Leadership
German factory orders fall for first time in eight months
07.12.2009
German factory orders showed a surprise slide during October when compared to the previous month, official figures released today have revealed.
Figures from the German Economics Ministry showed that orders to German factories fell by 2.1pc during October, compared to a 1.3pc rise in September, flying in the face of analysts’ predictions, who had forecast a continuing rise in orders.
October’s decline marks the first fall in German factory orders in eight months.
With Germany’s car-scrappage scheme ending in September, declining orders for the car industry had an effect on October’s order figures.
Despite the fall, the Economics Ministry said the orders trend is still pointing upwards.
However, it noted that the recovery in industrial production is “likely to continue in the fourth quarter with weaker dynamism”.
Pictured: German Finance Minister Reiner Bruederle
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