World Economy

German Jan. Orders Lowest in 8 Years

German Jan. Orders Lowest in 8 YearsGerman Jan. Orders Lowest in 8 Years

A sharp fall in domestic and eurozone demand drove the biggest monthly slump in German industrial orders in eight years in January, data showed on Tuesday, Reuters reported. Contracts for ‘Made in Germany’ goods were down by 7.4% on the month, the economy ministry said. That was the biggest monthly drop since January 2009 and was almost three times below the Reuters consensus forecast for a fall of 2.5%. The economy ministry said high demand in the fourth-quarter of 2016 resulted in the weak start to 2017. It expects industrial orders to rebound later this year.

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