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Financial News: Germany Factory Orders Fall Unexpectedly In December

Germany Factory Orders Fall Unexpectedly In December

02/06/2020 - 02:12:00 (RTTNews)

(RTTNews) - Germany's factory orders decreased unexpectedly in December, data from Destatis revealed Thursday.

Factory orders fell 2.1 percent month-on-month in December, following a revised 0.8 percent drop in November. Orders were forecast to grow 0.7 percent.

Excluding major orders, manufacturing orders decreased 1.3 percent on a monthly basis in December.

Domestic orders grew 1.4 percent, while foreign demand decreased 4.5 percent in December.

On a yearly basis, new orders slid 8.7 percent versus a 6 percent fall in November and an expected fall of 6.6 percent.

Data showed that manufacturing turnover decreased 1.3 percent on a monthly basis, bigger than the 0.4 percent fall seen in November.

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