Destatis said on Thursday seasonally and calendar-adjusted German industrial
orders rose 4.4% MoM in September, below the 4.8% analyst consensus. The
increase was concentrated in autos, where new orders jumped 10.5% MoM. New
orders and output were depressed in the prior two months by production
changeovers and plant holidays. Machinery orders rose 8.3%, supported by one
large contract. A three-month smoother shows Q3 2026 new orders 0.2% higher than
Q2. The German Mechanical Engineering Federation (VDMA) said September real
orders in machinery and plant engineering were up 14% YoY, but largely reflected
an unusually low prior-year base and the federation judged any recovery still
fragile.
