Germany industrial orders rise 3.9% in October from September

06 December 2012 15:07  [Source: ICIS news]

LONDON (ICIS)--Germany’s industrial orders rose 3.9% in October from September, with orders in the country’s chemicals and pharmaceuticals sector also rising month on month, according to data released on Thursday.

October’s increase in industrial orders was driven by a 6.7% rise in orders from abroad, mainly from outside the eurozone, while domestic orders rose by just 0.4%, the country’s economics ministry said.

Despite the increase, the ministry said that the economic environment remains weak and industrial production trends will likely be moderate in coming months.

The increase followed a revised 2.4% decline in September from August.

On a two-month sequential comparison – September-October versus July-August – industrial orders were down 0.9%. Compared with September-October 2011, orders were down 3.1% year on year.

In a separate data release, Germany’s central bank said that its volume index for orders in the country’s chemicals and pharmaceuticals index rose to 101.0 in October, from 98.4 in September. The index’s base year is 2005.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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