German Factory Orders Accelerate Drop as Recession Looms
- September orders fall 4% on month; median economist est. -0.5%
- Europe’s largest economy predicted to slip into recession
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German factory orders continued to decline in September, adding to concerns that Europe’s largest economy is slipping into recession as it struggles with surging energy costs.
Demand fell 4% from the previous month, a steeper drop than the 0.5% median estimate in a Bloomberg poll of economists and accelerating from a revised 2% decrease in August.