German factory orders fall off cliff

German factory orders fall off cliff

Germany’s manufacturing sector has suffered a surprisingly sharp fall in orders, raising concerns that its economy may not be as robust as thought, the UK’s Guardian reports.

Orders for German factory goods plunged by 7.4% in January, compared to December.

That’s much worse than the 2.5% drop which analysts expected.

The dropoff appears to have been driven by a decline in orders within Germany itself. This domestic demand fell by 10.5%.

Foreign orders slid by 4.9% — including a 7.8% fall in demand from the euro zone. That’s not a great signal for the euro area, which had shown signs of more robust growth recently.  READ MORE: https://www.theguardian.com/business/live/2017/mar/07/german-factory-plunge-oecd-uk-economy-retail-business-live

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