Business World

Saturday 24 June 2017

Europe's largest market splutters in November

Weak demand sees drop in German manufacturing
Weak demand sees drop in German manufacturing

Reuters reporters

Weak demand both at home and abroad drove a bigger-than-expected fall in German industrial orders in November, marking a slight correction after a surge in the prior month, data showed on Friday.

Contracts for goods 'Made in Germany' were down by 2.5pc on the month, the Economy Ministry said. That was the biggest monthly drop since November 2014 and compared with a Reuters consensus forecast for a fall of 2.3pc.

Domestic demand decreased 2.8pc while foreign orders fell 2.3pc, with demand from euro zone countries down 2.7pc.

The data for October was revised up to a rise of 5.0pc from a previously reported increase of 4.9pc. This marked the biggest monthly rise since July 2014.

More to follow......

Reuters

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