German industrial orders rise 4.4% in September

(Sharecast News) - German industrial orders rose 4.4% on the previous month, the federal statistics office said on Thursday. The rise was driven primarily by a 10.5% increase in the automotive sector as activity rebounded following production changeovers and factory holidays that had weighed on orders and output in the previous two months.

Machinery and equipment orders also climbed 8.3%, supported by a large contract in the engines and turbines segment.

However, growth was partly offset by a 10.4% decline in orders for other transport equipment, including aircraft, ships, trains and military vehicles, a sector that had benefited from particularly large orders earlier in the year.

Reporting by Frank Prenesti for Sharecast.com