German industrial orders surprise with October leap

Industrial orders in Germany jumped sharply in October, official data showed Tuesday, stoking hopes of a strong final quarter for Europe's largest economy.

The volume of orders in October was 4.9 percent higher than the previous month, correcting for price, seasonal and calendar effects, the federal statistics office Destatis said in a statement.

With a 6.3-percent increase in orders, domestic demand rose more sharply than foreign orders, which grew by 3.9 percent.

The growth in foreign orders came entirely from non-eurozone countries, with orders from Germany's eurozone neighbours showing zero growth.

Looking sector-by-sector, capital goods firms reported the biggest increase in orders, at 7.2 percent, while producer goods makers saw growth of 1.8 and consumer goods 0.5 percent.