German factory orders dropped in November

3 month 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.