If orders keep falling, pressure on industrial jobs will grow
Germany's statistics office, Destatis, publishes September orders and output on 5 and 6 November; the Bank of England decides on 5 November and the US jobs report follows on 6 November.
In Germany the first warning strikes in the metal and electrical industry coincide with fresh industrial data, after orders fell by 10.6 per cent in August for lack of large contracts. Internationally, the US midterm elections on 3 November, the Bank of England and the US jobs report set the tone for interest rates and the dollar.
Dates
| Mon 2 Nov | German government's Digital Summit in Berlin (to 3 Nov) The focus is AI: strategy, applications, security and a European AI ecosystem, with digital ministers from Europe and Canada; at stake is the framework for providers and users. |
| From Mon 2 Nov | Warning strikes in the metal and electrical industry The first working week after the no-strike obligation ended: IG Metall wants 5 per cent over 12 months; the offer in Lower Saxony is 1.3 per cent from July 2028 plus a one-off payment. |
| Tue 3 Nov | US midterm elections to Congress The majorities in Congress determine how far the administration can push through budget, trade and regulatory policy over the next two years. |
| Wed 4 Nov | BMW reports third-quarter results After Audi's slump in profits, another German carmaker shows how sales and margins are developing. |
| Thu 5 Nov | Destatis: September industrial orders Orders fell by 10.6 per cent in August, but only by 0.1 per cent excluding large contracts; September shows whether the fall was a one-off. |
| Thu 5 Nov | Bank of England rate decision with new Monetary Policy Report Bank Rate has been 3.75 per cent since December 2025; the decision shapes sterling and funding for firms doing business in Britain. |
| Fri 6 Nov | Destatis: September production index After GDP growth of 0.2 per cent in the third quarter, output shows the pace at which industry enters the final quarter. |
| Fri 6 Nov | US jobs report for October The Fed paused on 28 October with two members favouring a rise; the report shows whether the labour market supports an increase in December. |
What changes in practice
- Employees
- Warning strikes in the metal and electrical industry have been possible since 1 November. The IG Metall union wants 5 per cent; employers in Lower Saxony offer 1.3 per cent from July 2028.
- Companies
- Orders and output on 5 and 6 November show how industry enters the fourth quarter. Strike losses at manufacturers pass through supply chains to suppliers.
- Borrowers
- If the Bank of England stays at 3.75 per cent and US jobs data support a Fed rise in December, sterling and dollar funding stays expensive.
What to watch
- September orders: a rebound after minus 10.6 per cent in August, or a decline even excluding large contracts
- Bank Rate: does it stay at 3.75 per cent, and how do the nine members vote
- Fed target range of 3.75-4.00 per cent: do the US jobs figures support an increase on 9 December
Sources
- BMDS: Digital-Gipfel 2026, 2. und 3. November, Berlin
- IG Metall: Tarifrunde Metall und Elektro 2026
- IG Metall Salzgitter-Peine: Warnstreiks ab 1. November, Arbeitgeberangebot
- FEC: 2026 Election Dates (General Election 3. November 2026)
- BMW Group Investor Relations: Quartalsmitteilung am 4. November 2026
- Destatis: Veröffentlichungstermine 2. bis 6. November 2026
- Destatis: Auftragseingang im August 2026 −10,6 % zum Vormonat
- Destatis: BIP im 3. Quartal 2026 um 0,2 % höher
- Bank of England: MPC-Termine 2026
- BLS: Employment Situation, Veröffentlichungstermine 2026