German Factory Orders Unexpectedly Fall on Weak Recovery

German factory orders unexpectedly fell in August, backing up the European Central Bank’s view that the economic recovery in the euro area is fragile.

Orders, adjusted for seasonal swings and inflation, dropped 0.3 percent from July, when they fell a revised 1.9 percent, the Economy Ministry said today in an e-mailed statement. Economists forecast an increase of 1.1 percent in August, according to the median of 40 estimates in a Bloomberg News survey. Orders climbed 3.1 percent from a year ago, when adjusted for the number of working days.