The Federal Statistical Office reported Thursday that October orders dropped 0.4% over the previous month when adjusted for seasonal, price and calendar factors. Compared with October 2018, orders were down 5.5%.
Foreign orders rose 1.5% in October over September, but a 3.2% drop in domestic orders wiped out those gains. ING economist Carsten Brzeski says the data indicate 2019 will be the second year in a row in which new orders will have fallen.
He says trade conflicts, global uncertainty and automobile industry challenges are “clearly weighing on German industry.”