Germany: Strong manufacturing numbers - TDS

Analysts at TD Securities note that the German manufacturing for September came in better expected with a 0.2% increase (market: 0.0%).

Key Quotes

“This comes despite weak underlying details of factory orders release and the auto production disruptions from new regulations.”

“In particular auto production rebounded smartly, indicating that a recovery is already underway. Overall this leaves German output on better than expected footing heading into Q3.”