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German factory orders fall more than expected in August

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Christian Fernsby ▼ | October 7, 2019
German factory orders fell more than expected in August, with domestic orders proving to be the biggest drag, according to Destatis.
Germany industry
Europe   Orders declined 0.6%
Orders declined 0.6% on the month in August, which was an improvement on the revised 2.1% drop seen the month before but steeper than the 0.3% dip expected.

Topics: German factory

On the year, factory orders slumped 6.7% compared to a downwardly-revised 5% decline in August and expectations of a 6.4% fall.

Domestic orders fell 2.6%, while foreign orders were up 0.9% in August compared to the previous month. New orders from the eurozone were up 1.5%, with new orders from other countries 0.4% higher compared to July 2019.

The manufacturers of intermediate goods saw new orders rise 1.1% compared with July, while the manufacturers of capital goods saw a 1.6% decline. For consumer goods, new orders were down 0.9%.