Destatis reports 4.2 percent increase in manufacturing orders in Germany for September
Date
11/6/2024 7:49:34 AM
(MENAFN) New data from Germany’s federal statistical authority, Destatis, revealed a notable 4.2 percent rise in new manufacturing orders for September, a rebound from the prior month’s 5.4 percent decline. This improvement, announced on Wednesday, suggests some recovery within Germany’s manufacturing sector following a weaker August.
Destatis highlighted that the surge in orders during September was largely driven by a marked uptick in the transport equipment industry, covering sectors such as aviation, shipping, rail, and military vehicles. In fact, new orders in transport equipment more than doubled, with an impressive 117.1 percent increase compared to the previous month, spurred by a number of large-scale orders.
The automotive industry also supported the positive trend, with new orders climbing by 2.9 percent in September. However, not all manufacturing sectors saw growth; Destatis reported declines in orders for basic metals, which fell by 10 percent, and for machinery and equipment, which dropped by 3.6 percent, indicating variability across manufacturing industries.
On an annual basis, new orders experienced a modest increase of 1 percent in September, a recovery from the 3.4 percent year-over-year decline observed in August. The yearly comparison further underscores September’s positive shift, with transport and automotive sectors leading the gains despite lingering challenges in other areas of manufacturing.
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