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German factory orders fall unexpectedly

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Christian Fernsby ▼ | February 6, 2020
Germany's factory orders decreased unexpectedly at the end of 2019, reflecting the weakness in foreign demand, data from Destatis revealed today.
German factory
Economy in Germany   Factory orders fell 2.1 percent month on month in December
Factory orders fell 2.1 percent month on month in December, following a revised 0.8 percent drop in November. This was the biggest decrease since February and confounded the expected growth of 0.7 percent.

Topics: German factory

Domestic orders grew 1.4 percent, while foreign demand decreased 4.5 percent in December. Orders from the euro area plunged 13.9 percent.

On the other hand, demand from other countries grew 2.1 percent.

On a yearly basis, new orders slid 8.7 percent versus a 6 percent fall in November. Economists had forecast a decrease of 6.6 percent.

In the fourth quarter, manufacturing orders were down 0.5 percent from the preceding three months.

The economy ministry said the outlook for industrial activity remains subdued.

Further, data showed that manufacturing turnover decreased 1.3 percent on a monthly basis, much bigger than the 0.4 percent fall seen in November.


 

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