German factory orders dropped in November

11 days ago

Orders at German factories fell in November, penalized by falling demand from other Eurozone countries.

The Ministry of Economy said Monday that government orders were down 1% from the previous month, after a slight gain of 0.2% in October.

This figure includes an 11.6% drop in orders from other euro area countries of the 19 countries, which resulted in the cancellation of more than 7.4% the previous month. Orders from Germany increased by 2.4%, while demand from outside the euro area increased by 2.3%.

Factory orders are an important indicator of the German economy, the largest economy in Europe, which contracted in the third quarter - although this decline is largely attributed to non-recurring factors resulting from the new labor standards. emissions.