Germany's Industrial Orderbook Declines
Source: Agencies |
November 5, 2011, Saturday
|
Print Edition
Print Edition
THE German government yesterday said industrial orders from Germany dropped by 4.3 percent in September compared with the previous month, largely on the back of a double-digit drop from other eurozone countries.
The decline was much steeper than economists expected and followed a 1.4 percent decline in August.
The Economy Ministry said the number of large orders was low in September and public holidays may also have had a dampening effect. It said orders from outside Germany were dragged lower by a 12.1 percent decline in orders from elsewhere in the 17-nation eurozone.
Overall foreign orders were 5.4 percent lower. Those from inside Germany were down 3 percent.
The German economy - Europe's biggest - is losing steam amid a cooling global outlook and mounting debt troubles in the eurozone.
The decline was much steeper than economists expected and followed a 1.4 percent decline in August.
The Economy Ministry said the number of large orders was low in September and public holidays may also have had a dampening effect. It said orders from outside Germany were dragged lower by a 12.1 percent decline in orders from elsewhere in the 17-nation eurozone.
Overall foreign orders were 5.4 percent lower. Those from inside Germany were down 3 percent.
The German economy - Europe's biggest - is losing steam amid a cooling global outlook and mounting debt troubles in the eurozone.
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