German factory orders dwindle to lowest level in six months
Germany’s factory orders fell at the fastest rate for six months in July, figures released on Friday showed.
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According to the Destatis federal statistical office, factory orders declined 1.4% month-on-month in July, recording the biggest drop since falling 2.6% in January.
The figure was well short of the expected 0.6% increase, which still would have represented a slowdown from the 1.8% increase in June.
The report said domestic orders rose 4.1%, while foreign orders slumped 5.2% month-on-month. Orders received from Eurozone countries climbed 2.2%, while orders from other countries plunged 9.5%.