Back
4 Sep 2015
German factory orders drop sharply in July, worse-than expectations
FXStreet (Mumbai) - Factory orders in the euro zone's largest economy plummeted in July, witnessing a bigger than expected drop, a report from Germany's statistical office Destatis revealed on Friday.
German factory orders dropped 1.4% in July, month-on-month, while markets had expected the reading to post a 0.6% decrease. In the prior month, the revised gauge rose 1.8%.
The manufacturers of intermediate goods recorded decreases in new orders of 0.2% on the previous month and capital goods decreased 1.6%. For consumer goods, a decrease in new orders of 6.3% was recorded.
On a yearly basis, the gauge declined 0.6% in July, after posting a revised 7.0% growth in the previous month, opposed to projections of an increase of 0.4% year-on-year in July.
German factory orders dropped 1.4% in July, month-on-month, while markets had expected the reading to post a 0.6% decrease. In the prior month, the revised gauge rose 1.8%.
The manufacturers of intermediate goods recorded decreases in new orders of 0.2% on the previous month and capital goods decreased 1.6%. For consumer goods, a decrease in new orders of 6.3% was recorded.
On a yearly basis, the gauge declined 0.6% in July, after posting a revised 7.0% growth in the previous month, opposed to projections of an increase of 0.4% year-on-year in July.