Factory orders fall in Germany for 4th month in a row

ISTANBUL

Germany's factory orders continued to drop in October on an annual basis for the fourth month in a row, official figures showed on Wednesday.

The country's statistical department Destatis revealed that factory orders posted an annual decline of 7.3% in October, while they dropped 3.7% on a monthly basis.

"The less volatile three-month on three-month comparison showed that new orders were 4.6% lower in the period from August to October 2023 than in the previous three months," it added.

The manufacturing sector's turnover also declined on a yearly and monthly basis in October, by 2.1% and 0.5%, respectively.