German industrial orders rise 0.3pc

German industrial companies booked a rise in orders in September, official data showed Tuesday, beating expectations as a rebound in August also proved stronger than previously announced.

Companies reported a 0.3 percent month-on-month gain in new orders for September, after price, seasonal and calendar effects were adjusted for, federal statistics authority Destatis said in a statement.

The data strongly outperformed a 0.5 percent drop predicted by analysts polled by Factset financial services.

In addition, Destatis revised upwards its data for August, saying orders were up 2.5 percent compared to a month earlier, instead of the previously announced 2.0 percent. Orders data are closely followed by economists as they give a forward look at the performance of the industrial sector, the beating heart of Europe's largest economy.

This year, the figures have varied sharply from month to month as US President Donald Trump has left trading partners unsettled with his multi-front commerce battles.