Shine Trader Live Reports:
Due to increased demand for investment equipment-related products outside the Eurozone, German factory orders rebounded in September, suggesting that once the supply chain bottleneck is eliminated, production will be boosted.
After a month-on-month decline of 8.8% in the previous month, orders for September increased by 1.3% from the previous month. Economists had predicted faster growth.
Although the tightening of raw materials and transportation in recent months has weakened momentum, Germany’s industry-centric economy continues to benefit from the global recovery. Companies are facing unprecedented product delivery cycles and are forced to pass on higher costs to customers.
According to a survey by the Ifo Institute, more than 70% of companies reported a shortage of raw materials in October, and many expect the problem to continue into next year. Due to the tight supply chain, the number of employees receiving national salary support increased last month.
Demand for investment equipment-related commodities increased by nearly 4% in September. Automobile and machinery manufacturers report a substantial increase in orders.
Reprint indicated source：Spark Global Limited information