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Financial News: Germany Factory Orders Decline In May

Germany Factory Orders Decline In May

07/05/2019 - 02:33:00 (RTTNews)

(RTTNews) - Germany's factory orders declined more-than-expected in May, figures from Destatis showed Friday.

Factory orders decreased 2.2 percent month-on-month in May, in contrast to a 0.4 percent rise in April. Economists had forecast a marginal fall of 0.1 percent.

Domestic orders grew 0.7 percent, while foreign orders fell 4.3 percent. Orders from the euro area slid 1.7 percent and that from the non-euro area countries decreased 5.7 percent.

On a yearly basis, factory orders plunged 8.6 percent annually, bigger than the 5.3 percent decrease seen in April. Orders were forecast to decline 6.3 percent.

Data showed that manufacturing turnover fell 1.2 percent on month in May, following a 0.6 percent drop in April.

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