Financial News: German Factory Orders Fall Unexpectedly

German Factory Orders Fall Unexpectedly

06/06/2024 - 02:49:00 (RTTNews)

(RTTNews) - Germany's factory orders fell unexpectedly in April largely due to the sharp contraction in orders for other transport equipment, data from Destatis showed on Thursday.

Factory orders dropped 0.2 percent month-on-month in April, confounding expectations for an increase of 0.3 percent. Nonetheless, this was slower than the revised 0.8 percent fall posted in March.

When large-scale orders were excluded, new orders advanced 2.9 percent from the previous month.

There was a sharp 15.4 percent decrease in orders for other transport equipment. The manufacture of computer, electronics and optical products reported a 5.1 percent fall and that of electrical equipment was down 4.1 percent.

Foreign orders slid 0.1 percent as orders from the euro area declined 1.4 percent. On the other hand, orders from the non-euro area grew 0.6 percent. Further, domestic orders registered a 0.3 percent drop.

On a yearly basis, the decline in new orders slowed to 1.6 percent from 2.4 percent in March.

Data showed that real turnover in manufacturing decreased 0.9 percent on a monthly basis after a revised 0.4 percent drop in the prior month.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Atlanta Fed Sees U.S. Q3 GDP Growth At 2.8% (07 hr(s), 26 min(s), 59 sec(s) ago)
(RTTNews) - The Atlanta Fed released its initial estimate for the third quarter growth based on it ...Full Story»

U.S. Consumer Sentiment Index Dips Slightly Less Than Previously Estimated In July (09 hr(s), 17 min(s), 59 sec(s) ago)
(RTTNews) - The University of Michigan released revised data on Friday showing consumer sentiment ...Full Story»

U.S. Consumer Prices Inch Up 0.1% In June, In Line With Estimates (10 hr(s), 14 min(s), 59 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Spain Jobless Rate Lowest Since 2008 (10 hr(s), 28 min(s), 59 sec(s) ago)
(RTTNews) - Spain's unemployment rate fell to the lowest level in nearly 16 years in the secon ...Full Story»

Denmark Retail Sales Fall 0.1% (10 hr(s), 36 min(s), 59 sec(s) ago)
(RTTNews) - Danish retail sales decreased slightly in June after recovering in the previous month, ...Full Story»

Hungary Jobless Rate Falls To 4.3% (10 hr(s), 52 min(s), 59 sec(s) ago)
(RTTNews) - Hungary's unemployment rate decreased slightly during the April-June period, data ...Full Story»

U.S. PCE Price Index Inches Higher In June, Annual Growth Slows To 2.5% (11 hr(s), 01 min(s), 59 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Russia Central Bank Hikes Rate By 200 Bps (11 hr(s), 14 min(s), 59 sec(s) ago)
(RTTNews) - Russia's central bank raised its benchmark rate by 200 basis points on Friday amid ...Full Story»