German factory orders fall more than expected in AugustChristian 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.
Europe Orders declined 0.6%
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%. ■