German industrial new orders in October increased by 1.5% compared to the previous month.

Data released by the German Federal Statistical Office on the 5th showed that driven by domestic demand, seasonally and working-day adjusted, industrial new orders in Germany increased by 1.5% month-on-month in October. The data showed that domestic new orders in Germany increased by 9.9% month-on-month in October, while foreign new orders decreased by 4%, with new orders from the Eurozone growing by 0.1% and new orders from outside the Eurozone decreasing by 6.5%. The German Federal Statistical Office stated that the growth in new orders in October was mainly attributed to the transportation equipment manufacturing industry, including aircraft, ships, trains, and military vehicles, which saw a significant increase of 87.1% month-on-month. The data also showed that when adjusted for working days, new industrial orders in October decreased by 0.7% year-on-year. The German Federal Ministry for Economic Affairs and Energy issued a statement on the same day, stating that domestic new orders in Germany are showing signs of recovery, with the October order structure influenced by increased demand in the defense sector. However, orders from abroad, particularly outside the Eurozone, remain weak, and are expected to continue to weigh on overall exports.