According to the German agency, much of this was led by new orders domestically, which rose 1.6%, and non-eurozone orders, which increased by 3% on the previous month.
Germany's manufacturing downturn has led to a slowing economy for Europe's powerhouse, and last month its central bank said the country may have fallen into recession — so Wednesday's data will come as a welcome relief for the country's decision-makers. Germany plays a giant role in the global economy — it's the third-largest in the world and also Europe's biggest, meaning that if it falls into recession, much of the eurozone will struggle also.
"The German industrial orders data today are somewhat encouraging and suggest that the deep recession in German industry may now be bottoming out," Jessica Hinds, Europe economist at Capital Economics, said in an email to Markets Insider. "It's important to note that these data are volatile and monthly changes in orders do not have a great relationship with monthly changes in production."he country exports a lot of capital goods to places like China and the US.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Truckers warning on 'industrial recession' that might undo 2019 peak - Business InsiderAn industrial recession is dragging down the trucking industry, even as the retail and consumer economy stays healthy. The Drumpf Effect Where's Donnie, why isn't he helping the trucking industry like he helped coal
Source: BusinessInsider - 🏆 729. / 51 Read more »
Alibaba is leveraging its Singles' Day holiday to boost sales amid a revenue decline - Business InsiderAlibaba’s Singles' Day is the world's largest e-commerce sales day, and could serve as both a short- and long-term salve for Alibaba's sales performance: Bias reporting to meet communist propaganda! No good for USA! Alibaba belongs to Chinese government not private company. All Chinese companies' financial are fake, fake, & fake, invest in this company is like dumping your money in the ocean. Garbage to USA! Taylor Swift should cancel her upcoming performance for Alibaba's Singles Day Gala! She doesn't need any money from corrupt Chinese government owned companies. Stand up for human rights! BoycottChina StandwithHongKong BandinChina
Source: BusinessInsider - 🏆 729. / 51 Read more »
Boeing CEO to forgo equity pay and bonuses amid 737 Max scandal - Business InsiderThe company's chairman told CNBC's Squawk Box that the board still has full faith in CEO Dennis Muilenburg despite the 737 Max scandal.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Investing Insider November 5: Jim Rogers' crash plan, Klarman wisdom - Business InsiderAn exclusive chat with famed hedge funder Jim Rogers, investing advice from a Seth Klarman disciple, and a troubling divergence in stocks Jim Rodgers is famed for getting most things wrong...a media personality, not a serious finance person.
Source: BusinessInsider - 🏆 729. / 51 Read more »