ISTANBUL
Germany’s factory orders dropped by 4.3% in September on a yearly basis, the country’s statistical department announced on Monday.
On a monthly basis, the country’s manufacturing sector saw a slight increase of 0.2% in September, Destatis said.
“The less volatile three-month on three-month comparison showed that new orders were 3.9% lower in the 3rd quarter of 2023 than in the 2nd quarter,” it noted.
New orders – excluding large-scale orders – were down 2.2% in September 2023 compared with the previous month, Destatis added.
In September, foreign orders were up 4.2%, with new orders from the euro area raising by 6.2% and orders from the rest of the globe by 2.9%.
Domestic orders declined by 5.9% in September on a monthly basis.
In September, real turnover in manufacturing was also down 1.6% on a monthly basis.
