The order intake at German factories fell less than feared in October. The development increases the likelihood that the country's long-term downturn for the manufacturing industry may have passed the bottom.
The order intake fell 1.5 percent compared to September, which can be compared to an average forecast among analysts of a decline of 2.0 percent.
Compared to October last year, the order intake was 5.7 percent higher, compared to the expected increase of 1.8 percent.
In September, the German factory order intake increased by 7.2 percent according to revised figures from the German Federal Statistical Office Destatis.
The German economy – Europe's largest – is expected to shrink for the second year in a row in 2024.
