German engineering group VDMA details the order numbers for September
German engineering orders saw a y/y flat Sep vs a 2% gain in Aug. 3m y/y fell 0.7% vs -0.5% prior. On the breakdown, export orders were flat y/y but domestic orders rose 2.0%.
On the 3m measure, both export and domestic orders fell 12% & 4% respectively.
These numbers can be a bit choppy so it's hard to read much into them, for example, domestic orders were up 34% in Jul. That said, the trend is what's worth watching and a continuation of negative or flat numbers will tell the story.
