German Manufacturing Sees October Growth
This followed a revised upward increase of 2% in September and exceeded market forecasts, which had anticipated only a 0.3% gain for October.
The expansion was largely driven by a month-on-month surge in the production of "other transport equipment (aircraft, ships, trains, military vehicles)," which jumped by 87.1% due to a substantial large-scale order.
Additionally, growth in new orders for the manufacture of "basic metals" (+11.9%) further contributed to the overall positive outcome.
Conversely, a reduction in new orders for the manufacture of "electrical equipment" by 16.2% negatively affected the overall performance of the sector.
Real manufacturing turnover in October increased by 0.3% compared with the previous month.
However, on a year-on-year basis, "factory orders" fell by 0.7% in October, while "turnover in manufacturing" was also down 1.6% over the same period.
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