German factory orders rose 4.2% month-on-month in September 2024, exceeding market expectations of a 1.5% increase and recovering from a downwardly revised 5.4% drop in August, the most significant fall since January.
Germany's factory orders rise 4.2% in September
The growth was primarily driven by a 117.1% surge in aircraft, ships, and train orders and a 2.9% increase in automotive industry orders. However, demand fell for primary metals (-10.0%) and machinery and equipment (-3.6%). Orders for capital goods rose by 8.3%, consumer goods grew by 3.8%, and demand for intermediate goods fell by 2.4%. Foreign orders rose 4.4%, with a significant 14.6% increase from the Eurozone, while demand from outside the region dropped by 1.6%.
Germany's domestic orders up 3.6%, total orders rise 2.2% in September
Domestic orders grew by 3.6%, excluding large-scale orders; total incoming orders increased by 2.2% from August. Over the three months, new orders in Q3 2024 were 4.2% higher than in Q2.
