German Factory Orders Slump in New Sign of Economic Slowdown
- January demand fell 11.3% from previous month, est. -6%
- A less volatile three-month reading shows a 2.3% rise
This article is for subscribers only.
German factory orders dropped sharply at the start of 2024 following an uptick in December – underscoring the difficulties of Europe’s largest economy to overcome its recent malaise.
Data released Thursday showed an 11.3% decrease in demand in January from the previous month. That was worse than predicted by any economist in a Bloomberg survey. The decline was due to a slowdown in major orders, which after a strong showing in December, were back to their normal level, the statistics agency said.