Industrial orders in Germany fall
Mar 8, 2017-
Industrial orders in Germany plunged 7.4 percent in January, preliminary official data showed on Tuesday, troubling a largely bright picture of recovery in Europe’s largest economy. New orders—a closely watched indicator of future economic performance—had increased 5.2 percent in December, adjusting for price, seasonal and calendar effects, federal statistics office Destatis confirmed. Analysts surveyed by Factset had predicted a much smaller fall in January of 2.5 percent. “Today’s disappointing data is a good reminder that German industry is having more problems returning to full speed than buoyant sentiment indicators have been suggesting,” said economist Carsten Brzeski of ING Diba bank. January’s drop in new orders was the largest since 2009, he noted, following on from months of “almost unprecedented” fluctuations in the indicator since last summer.
Published: 08-03-2017 09:14