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German Factory Orders Fall Amid Weaker Foreign Investment Demand

  • Orders drop 2.1% in April vs. estimated decline of 0.3%
  • Economy Ministry points to below-average bulk orders

German factory orders fell after two consecutive months of expansion in a sign that growth in Europe’s largest economy may be steadying after a strong start of the year.

Orders, adjusted for seasonal swings and inflation, dropped 2.1 percent in April, after expanding an upwardly revised 1.1 percent in March, data from the Economy Ministry in Berlin showed on Wednesday. The typically volatile reading compares with a median estimate for a 0.3 percent decline in a Bloomberg survey. Orders were up 3.5 percent from a year earlier, when adjusted for working days.