German manufacturing orders continue to climb

CNC
Added On December 8, 2017

Germany's manufacturing sector grew slightly in October, beating analysts' predictions of a decline.
 
According to the Federal Statistical Office, season and price adjusted orders were up 0.5 percent in October compared to September. 
 
October's positive development was supported by an increase in domestic demand as well as foreign demand. 
 
A decline of 1.2 percent in orders placed in the Eurozone was compensated by a bigger 1.6 percentage point jump in orders from other international markets.
 
However many analysts believe German manufacturers are now working at full capacity, making any further growth hard to come by.
 
The German Chemical Industry Association expects its revenue growth to fall 5.5 percent in 2017, and 3 percent in 2018. 
 
Similarly, Germany's Automotive Industry Association forecasts new vehicle registrations to fall back 2 percent next year also.
 
Overall, the German economy grew by 0.8 percent in the third quarter and is widely anticipated to maintain its current pace during the fourth quarter of 2017.