Industrial orders in Germany unexpectedly fell in October due to weak domestic and external demand from the euro zone, which reflect the slowdown in growth rates in Europe's largest economy during the last quarter of the year.
Germany's industrial orders index plunged 0.4% in October, yet the previous reading was revised upwardly to 1.5% from 1.3%. On the annual basis, the industrial orders index fell by 5.5% and the previous reading was down by 5.4%.
It is worth mentioning that the Ministry of Economy has indicated that industrial orders have stabilized in the recent period due to an improvement in the expectations of the business sector, but the expectations of manufacturing activity remained weak and therefore manufacturing expectations for the fourth quarter also remained weak.
The German economy avoided recession in the third quarter, with GDP rising 0.1% from July to September, after a 0.2% contraction in the previous three months.
industrial companies in the country are struggling because of weak external
demand, with trade disputes sparking uncertainty over the policy and actions of
US President Donald Trump.