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Financial News: Germany Factory Orders Fall More Than Expected In

Germany Factory Orders Fall More Than Expected In August

10/06/2021 - 02:47:00 (RTTNews)

(RTTNews) - Germany's factory orders declined more than expected in August, data from Destatis revealed on Wednesday.

Factory orders fell 7.7 percent on a monthly basis, reversing a revised 4.9 percent rise in July. Orders were forecast to drop moderately by 2.1 percent. Excluding major orders, manufacturing orders decreased 5.1 percent from July.

Domestic orders fell 5.2 percent and foreign orders plunged 9.5 percent on month in August.

Year-on-year, manufacturing orders advanced 11.7 percent after rising 26.1 percent in the previous month.

Data showed that manufacturing turnover decreased 5.9 percent month-on-month after rising 1.9 percent in July.

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