Latest data released by Destatis - 4 December 2020
- Prior +0.5%; revised to +1.1%
- Factory orders +1.8% vs +0.2% y/y expected
- Prior -1.9%; revised to -1.1%
A solid jump in German industrial orders in the month of October, as this reaffirms the more robust manufacturing sector in recent months despite the resurgence of the coronavirus across the country.
For some context, the rebound in October sees factory orders pass its pre-crisis levels. In February, the index was at 102.4 but in October, the index is seen at 103.4.
This at least feeds into some optimism with regards to the German economy itself but the broader undertone in Europe itself is still relatively uncertain with the services sector across the region hampered by recent virus developments.
