Latest data released by Destatis - 6 October 2020
- Prior +2.8%; revised to +3.3%
- Factory orders WDA -2.2% vs -3.8% y/y expected
- Prior -7.3%; revised to -6.9%
Slight delay in the release by the source. Industrial orders see a strong lift in August, though this has been predicated by the manufacturing PMI data over the past two months already. That said, the hard data here at least helps to confirm that.
Given the September PMI report showed that foreign demand also picked up last month, expect factory orders to reflect better conditions as well at the end of Q3.
