German Factory Orders Unexpectedly Decline on Domestic Demand
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German factory orders unexpectedly declined in December on weaker domestic demand, signaling that companies in Europe’s largest economy remain hesitant to invest as surrounding nations struggle to sustain a recovery.
Orders, adjusted for seasonal swings and inflation, dropped 0.5 percent from November, when they rose a revised 2.4 percent, the Economy Ministry in Berlin said today. Economists forecast a gain of 0.2 percent, according to the median of 39 estimates in a Bloomberg News survey. Orders surged 6 percent from a year ago when adjusted for the number of working days.