German Factory Orders Drop in Another Sign of Industrial Woe
- Outcome for August follows two consecutive months of increases
- Government is set to abandon hope of any growth this year
Declining orders point to further weakness at a time when the economy might even have been in recession.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Factory orders in Germany plummeted in August, marking yet another setback for industry in a year when Europe’s biggest economy has failed to deliver a much-awaited recovery.
Demand declined 5.8% from July after two consecutive months of increases, data released on Monday showed. That’s the biggest drop since January and far worse than anticipated by any of the 17 economists in a Bloomberg survey.