Economic Buzz: German factory orders up by 4.4% in September

Seasonally and price-adjusted new factory orders in Germany jumped 4.4% in September compared to the month before, the country's Federal Statistical Office Destatis revealed in a report released on Thursday. On an annual basis, new orders climbed by 3.3%.

The rise in manufacturing orders was attributed to a significant increase in new orders in the automotive industry, which surged 10.5% on a monthly basis. New orders of consumer goods soared by 14.4%, while capital goods orders rose 5.3%, and intermediate goods orders were up 0.5% in the reported month.

Month-over-month, domestic orders grew 6.6%, while foreign orders climbed 2.8%, with orders from the euro area up by 4.5% and orders from outside the Eurozone increasing by 1.6%.

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