Germany sees factory orders drop
Print Edition
GERMAN industrial orders, a key measure of demand for goods in Europe’s top economy, slipped slightly in May, the economy ministry said yesterday.
Provisional official data showed a dip of 0.2 percent month on month, following an increase of 2.2 percent in April.
Analysts polled by financial services firm FactSet had penciled in a slightly bigger drop of 0.4 percent for May.
The decline was attributable to weaker domestic demand for German-made goods. Domestic orders fell by 0.6 percent, while export orders edged up by 0.2 percent, the ministry calculated.
Orders from the eurozone were down 1.5 percent, while orders from outside the single currency area grew by 1.2 percent.
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