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German Factory Orders Slip as Euro-Area Demand Deteriorates

  • Orders declined 1% in November; median estimate was 0.1% drop
  • Data distorted by October demand surge in aircraft industry
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German factory orders fell more than expected in November, though the numbers were distorted by airplane orders that masked signs of underlying momentum.

Orders slid 1 percent from October, and posted a year-on-year decline of 4.3 percent, the biggest in more than six years. The monthly decline was partly due to aircraft orders, which had jumped in October, as well as weakness in the euro area.