German factory orders see 3rd straight gain in October



Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

BERLIN (AP) — Factory orders in Germany, Europe's biggest economy, were up 0.5 percent in October compared with the previous month — the third consecutive monthly gain.

The Economy Ministry said Wednesday that the increase was fueled by slightly higher domestic demand and a larger increase in orders from outside the 19-nation eurozone. Orders from other eurozone countries were down 1.2 percent.

The October gain followed increases of 4.1 percent in August and 1.2 percent in September, and came despite a below-average number of bulk orders.

Economists have recently increased their growth forecasts for the German economy, with surveys showing business confidence at a record high and promising economic data. Its third-quarter growth rate of 0.8 percent, compared with the previous three-month period, exceeded expectations.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast