German Factory Orders Plummet, Raising Risk of Recession
- March orders fall 10.7%; economist estimate was for 2.3% drop
- Divergence with services sector has become more prononunced
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German factory orders fell the most since the pandemic as manufacturing continued to fare worse than other parts of Europe’s largest economy.
Demand declined 10.7% in March, more than estimated by a single economists in a Bloomberg poll that predicted a 2.3% drop. The slump was particularly pronounced in the car and car parts industry.