German Factory Orders Rise More than Expected

Germany’s factory orders jumped 5.6% mom in November 2025, beating market estimates for a 1.0% fall and picking up from an upwardly revised 1.6% increase in the prior month. This marked the third straight monthly gain and the strongest pace since December 2024, boosted by large orders in the manufacture of metal products (25.3%) and aircraft, ships, trains, and military vehicles (12.3%). More moderate growth was also recorded in electrical equipment, mechanical engineering and data processing, electronic, and optical products. By category, orders rose across the board, including consumer goods (8.2%), capital goods (7.9%), and intermediate goods (1.0%). Domestic demand jumped 6.5%, while foreign demand increased 4.9%, supported by gains from both the euro area (8.2%) and non-euro area markets (2.9%). Excluding large-scale contracts, orders rose 0.7%. On a three-month basis from September to November, factory orders advanced 4.0%, and excluding large contracts, they increased 1.6%.

Germany’s factory orders rose 1.5% month-on-month in October 2025, exceeding market forecasts of 0.5% but slowing from an upwardly revised 2.0% gain in the previous month. The latest figure marked the second consecutive monthly rise, supported by a large 87.1% jump in aircraft, ships, trains, and military vehicle orders, alongside an 11.9% rise in metal production and processing. In contrast, demand for electrical equipment fell 16.2%. By category, orders rose for capital goods (4.9%) but declined for intermediate (-3.4%) and consumer goods (-2.2%). Domestic orders surged 9.9%, while foreign demand fell 4.0%, dragged by weakness from non-Euro area markets (-6.5%), with Euro area orders up slightly (0.1%). Excluding large-scale contracts, overall orders rose 0.5%. On a three-month average from August to October, factory orders fell 0.5%, but excluding large contracts, they grew 2.0%, reflecting steady underlying demand

Germany’s factory orders rose 1.1% mom in September 2025, slightly above market estimates of 1.0% growth and swinging from a downwardly revised 0.4% drop in the prior month. It was the first increase since April, driven by rises in the manufacture of electrical equipment (9.5%), aircraft, ships, trains, military vehicles (7.5%), and the automotive sector (3.2%). In contrast, orders for metal products plunged 19.0% following large orders in August, with new orders in metal production and processing also down 5.6%. By category, demand rose for consumer goods (6.2%) and intermediate goods (1.4%), while capital goods orders held steady. Foreign orders grew 3.5%, lifted by gains from both the Euro area (2.1%) and non-Euro area (4.3%), but domestic orders fell 2.5%. Excluding large-scale contracts, overall orders expanded 1.9%. On a three-month average, factory orders declined 3.3% in Q3, and excluding large contracts, they fell 1.5%, highlighting persistent weakness in industrial activity.