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Financial News: Germany's Factory Orders Fall Unexpectedly In July

Germany's Factory Orders Fall Unexpectedly In July

09/06/2017 - 02:16:00 (RTTNews)

(RTTNews) - German factory orders declined unexpectedly in July on weak domestic demand, figures from Destatis revealed Wednesday.

Factory orders fell 0.7 percent month-on-month in July, in contrast to a revised 0.9 percent rise in June. This was the first fall in three months. Orders were forecast to climb 0.2 percent in July.

Domestic orders slid 1.6 percent, while foreign orders remained flat in July. Orders from the euro area decreased 1 percent, which was offset by a 0.6 percent rise in incoming orders from other countries.

Data showed the manufacturing turnover dropped 0.1 percent on month in July, reversing a 0.5 percent rise in June.

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