German Factory Orders Fall Twice as Much as Forecast
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German factory orders declined more than twice as much as economists forecast in June as sales to euro-area countries slumped.
Orders, adjusted for seasonal swings and inflation, dropped 1.7 percent from May, when they rose 0.7 percent, the Economy Ministry in Berlin said today. Economists forecast a 0.8 percent decline, according to the median of 35 estimates in a Bloomberg News survey. From a year earlier, orders fell 7.8 percent when adjusted for work days.