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