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German Factory Orders Drop as Euro-Area Economy Struggles

German factory orders unexpectedly declined for a second month in May in a sign that the euro area’s struggle to emerge from its longest-ever recession is disrupting the recovery in Europe’s largest economy.

Orders, adjusted for seasonal swings and inflation, dropped 1.3 percent from April, when they fell a revised 2.2 percent, the Economy Ministry in Berlin said today. Economists forecast a gain of 1.2 percent, according to the median of 42 estimates in a Bloomberg News survey. Orders slid 2 percent from a year ago, when adjusted for the number of working days.