German Factory Orders Unexpectedly Climb For Third Month On Foreign Demand

Date : 12/06/2018 @ 8:28AM
Source : RTTF2
Stock : Pound Sterling vs United States Dollar Spot (GBP/USD) (GBPUSD)
Quote : 1.255825  -0.015915 (-1.25%) @ 12:29AM
UK Pound vs US Dollar share price Chart

German Factory Orders Unexpectedly Climb For Third Month On Foreign Demand

UK Pound vs US Dollar (FX:GBPUSD)
Forex Chart

1 Month : From Nov 2018 to Dec 2018

Click Here for more UK Pound vs US Dollar Charts.

Germany's manufacturing orders increased for a third straight month in October, defying expectations for a decline, led by strong foreign demand despite the global trade uncertainties.

Factory orders grew 0.3 percent from September, preliminary data from the Federal Statistical Office showed on Thursday, while economists' had forecast a 0.4 percent fall.

September's 0.3 percent gain was revised to a 0.1 percent increase. Orders rose 2.3 percent in August.

Though the negative impact of the WLTP emissions test implementation in the automotive industry is still clearly noticeable at the start of the fourth quarter, the progress is recognizable, the Economy Ministry said.

"Incoming orders in the automotive industry have picked up noticeably since their low point in July, and the registration backlog has gradually dissolved," the ministry added.

Domestic orders fell 3.2 percent, while foreign bookings grew 2.9 percent. Demand from Eurozone increased 7.3 percent and orders from others countries rose 0.3 percent.

Meanwhile, the latest purchasing managers' survey showed that manufacturing growth fell to a 31-month low in November as new orders fell for a second straight month and at the fastest pace in four years.

The survey found that overall export sales decreased for a third straight month, and to the greatest extent since June 2013, with several firms reporting a drop in orders from China.

On a year-on-year basis, factory orders declined 2.7 percent in October, official figures showed, which was less severe fall than the 3.1 percent slump economists had predicted.

The pace of decrease for September was revised to 2.6 percent from 2.2 percent.

Manufacturing turnover grew a seasonally adjusted 1 percent month-on-month in October. September's decline was revised to 1 percent from 1.1 percent.

Elsewhere on Thursday, survey data from IHS Markit showed that the German construction sector returned to growth in November amid the fastest increase i new orders in nine months.

Latest GBPUSD Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20181211 00:44:02