Industrial orders unexpectedly grew in September

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Industrial orders unexpectedly grew in September

November 06, 2018 - 11:52
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Germany’s industrial orders unexpectedly grew in September due to higher demand internally and inside euro area, Reuters reports. It means that the largest economy in Europe finished third quarter standing at strong feet.

Reichstag Building in Berlin | © FelixMittermeier, CC0 1.0

Germany’s industrial orders unexpectedly grew in September due to higher demand internally and inside euro area, Reuters reports. It means that the largest economy in Europe finished third quarter standing at strong feet.

Contracts for product made in Germany grew by 0,3%. This is higher than forecasted decline by 0,6%.

However, for the third quarter as a whole, contracts volume fell by 1% due to lower foreign demand. It means that manufacturing played a very small role in third quarter economic growth.

According to experts, special role in slowdown is attributed to new pollution tests for vehicles, which resulted in delays of deliveries on behalf of Volkswagen, Renault and other auto producers.

Industrial orders growth in fourth quarter will still be quite high, analytics assume.