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German Factory Orders Decline

German Factory Orders DeclineGerman Factory Orders Decline

German factory orders declined in April as demand for investment goods from outside the 19-nation currency region slumped, Bloomberg reported. Orders, adjusted for seasonal swings and inflation, fell 2% from the prior month, when they rose a revised 2.6%, data from the Economy Ministry in Berlin showed on Monday. The reading, which is typically volatile, compares with economists’ forecast for a drop of 0.5%. Orders slid 0.5% from a year earlier. Export orders fell 4.3%, led by a 13.3% slump in investment-goods demand from the outside the eurozone that followed an 11% surge the previous month, the ministry report showed.

Financialtribune.com