According to provisional results of the Federal Statistical Office (Destatis), real (price adjusted) new orders increased by a seasonally and calendar adjusted 2.9% in October 2020 compared with September 2020. Economists had expected a 1.5% increase.
Compared with October 2019, the increase in calendar adjusted new orders amounted to +1.8%. Excluding major orders, real new orders in manufacturing (seasonally and calendar adjusted) were 1.7% higher than in the previous month.
Compared with February 2020, the month before restrictions were imposed due to the corona pandemic in Germany, new orders in October 2020 were 0.8% higher in seasonally and calendar adjusted terms. In the largest branch of manufacturing, the automotive industry, new orders still increased in October 2020 (+1.0% on the previous month) and were 6.0% above the pre-crisis level of February 2020.
Domestic orders increased by 2.4% and foreign orders increased by 3.2% in October 2020 on the previous month. New orders from the euro area went up 0.5%, and new orders from other countries increased by 4.8% compared with September 2020.
In October 2020, the manufacturers of intermediate goods saw new orders increase by 2.3% compared with September 2020. The manufacturers of capital goods saw an increase of 3.8% on the previous month. Regarding consumer goods, new orders fell 2.2%.
For September 2020, revision of the preliminary outcome resulted in an increase of 1.1% compared with August 2020 (provisional: +0.5%). The reason was late reporting, for instance, on major orders in the manufacture of air and spacecraft.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2021 Teletrade-DJ International Consulting Ltd
Teletrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.
The company operates in accordance with Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Telerade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Telerade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.