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Financial News: Germany's Factory Orders Fall Most Since Early 2017

Germany's Factory Orders Fall Most Since Early 2017

08/06/2018 - 02:34:00 (RTTNews)

(RTTNews) - Germany's factory orders decreased the most since early 2017, figures from Destatis showed Monday.

Factory orders declined 4 percent month-on-month in June, reversing a 2.6 percent increase in May. This was the biggest fall since January 2017. Economists had forecast orders to drop slightly by 0.1 percent.

Both domestic and foreign orders slid 2.8 percent and 4.7 percent, respectively. New orders from the euro area dropped 2.7 percent and demand from other countries slid 5.9 percent.

Excluding major orders, new orders decreased 3.2 percent in June.

On a yearly basis, factory orders fell unexpectedly by 0.8 percent, in contrast to May's 4.7 percent increase. Orders were forecast to rise 3.5 percent.

Further, data showed that manufacturing turnover decreased 1 percent on month in June, versus a 0.9 percent rise in May.

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