Germany’s factory orders declined in August as both domestic and foreign demand deteriorated from July, data from Destatis revealed Tuesday.
Factory orders dropped 1.8 percent month-on-month in August, confounding expectations for a 0.5 percent rise.
Orders had declined 2.2 percent in July, which was revised from a 1.4 percent drop estimated initially. This was the second consecutive decrease in orders.
Domestic orders slid 2.6 percent and foreign orders by 1.2 percent. As regards the direction of trade in foreign transactions, new orders from the euro area advanced 2.5 percent on the previous month, while demand from other countries decreased 3.7 percent.
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