Economics
German Factory Orders Rose for Fifth Month in September
- Demand increased 0.5% from previous month; median est. 2.0%
- Economy Ministry says orders nearly back at pre-crisis levels
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German factory orders extended their recovery in September, albeit at a slower pace, suggesting industry will support Europe’s largest economy through the second wave of the pandemic.
Demand rose 0.5%, less than economists expected. The Economy Ministry said the fifth consecutive gain was broad-based with stronger orders from within Germany and outside the euro-area, adding that demand had nearly reached levels recorded before the crisis.