German factory orders drop in new blow to Merz
37 Articles
37 Articles
German industrial orders fell surprisingly in August, a fourth consecutive month of decline, according to official data released Tuesday, a sign that the gloom in Europe's largest economy is not improving.
German industrial orders fell again in August, marking the fourth consecutive month of negative data. This was mainly due to a weak auto industry and a decline in foreign demand.
German factory orders fell 0.8 percent in August from July, the Federal Statistical Office said today. The result was much worse than analysts' expectations of a 1.2 percent increase. Year-on-year, orders rose 1.5 percent, the German news agency dpa reported.
Competition from Chinese cars, high energy prices, and US tariffs. German industry, the main engine of the European economy, recorded a decline in orders for another consecutive month. Economists forecast a rebound for the third consecutive month and were met with a negative surprise for the third time.
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