Tags: EU | Germany | Economy

German Factory Orders Decline again in August

Monday, 07 October 2019 02:38 AM

BERLIN (AP) — German factory orders, an important indicator for Europe's biggest economy, dropped for the second consecutive month in August — led by lower demand from domestic customers.

The Economy Ministry said Monday that orders were 0.6% lower compared with the previous month. That followed a 2.1% decline in July.

There was a 2.6% drop in orders from inside Germany, while demand from foreign customers improved. Orders from other countries in the eurozone rose 1.5% and those from elsewhere were up 0.4%.

German industrial data have been largely disappointing for months. The economy contracted slightly in the second quarter and is widely believed to have shrunk further in the just-concluded third quarter, which would put it in a technical recession.

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German factory orders, an important indicator for Europe's biggest economy, dropped for the second consecutive month in August - led by lower demand from domestic customers.The Economy Ministry said Monday that orders were 0.6% lower compared with the previous month. That...
EU,Germany,Economy
119
2019-38-07
Monday, 07 October 2019 02:38 AM
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