Germany’s industrial orders up 0.9% in September

06 November 2009 17:31  [Source: ICIS news]

TORONTO (ICIS news)--Germany’s industrial orders marked their seventh sequential increase in a row in September, rising 0.9% from August due to stronger export demand, the country’s economics ministry said on Friday.

However, domestic orders shrank, largely due to lower orders in the automobile sector because of the end of the government’s “cash-for-clunkers” programme last month, the Bundeswirtschaftsministerium said.

The growth in September comes after a revised 2.1% increase in August from July.

On a two-month sequential comparison – August/September compared with June/July – orders rose 4.0 %, and for the full third quarter ended September orders rose 8.9% from the second quarter.

However, year over year, orders were down 16.3% for the two months and fell 17.7% from the 2008 third quarter.

German chemical producers said earlier this week that chemical production rose 4% in the third quarter from the second, but industry association VCI maintained its full-year projection of a 10% decline in production from 2008.

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By: Stefan Baumgarten
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