German Factory Orders Fall Further, Adding to Industry Weakness
- April orders decline 0.4%; economist estimate was 2.8% rise
- Weakness in industrial sector is weighing on Germany’s outlook
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German factory orders unexpectedly fell in April, further dimming prospects for Europe’s largest economy after it endured the first recession since the pandemic over the winter.
Demand decreased 0.4% from the previous month, while economists polled by Bloomberg had forecast a 2.8% increase. The decline was due to large-scale orders — excluding them results in a 1.4% jump.