Overview
- Destatis reported a 1.5% month-on-month increase in October manufacturing orders, or 0.5% when excluding large orders, with September revised up to 2.0%.
- The gain was driven by an 87.1% surge in the 'other transport equipment' category, which the Economy Ministry linked to defense procurement.
- Domestic orders jumped 9.9% as foreign orders fell 4.0%, including a 6.5% drop from non-eurozone markets and a 0.1% uptick from the euro area.
- On a three-month comparison, orders in August–October were 0.5% below the prior three months, indicating underlying weakness persists.
- Services turnover fell 0.2% in September, with Destatis noting methodological updates and revisions as economists caution against reading the headline rise as a sustained recovery.