Order books filled for the 6th month in a row in October
The order books of German industry filled for the sixth month in a row in October and are therefore thicker than they were before the crisis began. Orders grew by 2.9 percent compared to the previous month, as the German Ministry of Economic Affairs announced on Friday. In September there was a revised increase of 1.1 (previously: 0.5) percent.
As a result of the race to catch up, the pre-crisis level has now been slightly exceeded: Measured on February 2020, the month before the start of the restrictions due to the corona pandemic in Germany, orders are 0.8 percent higher.
“In the past few months, the demand for industrial goods both from home and abroad has continued to pick up,” emphasized the ministry. Orders from Germany increased by 2.4 percent in October, and those from abroad by as much as 3.2 percent. Orders from the euro zone increased by 0.5 percent, those from the rest of the world by 4.8 percent.
The gross domestic product (GDP) grew at a record rate of 8.5 percent in the summer quarter, after falling 9.8 percent in the spring as a result of the measures taken to combat the spread of the corona pandemic. Many experts expect a setback in the current fourth quarter, as new corona restrictions have been in place in Germany since November.
