German factory orders drop in June as eurozone demand sinks

AP News
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Posted: Aug 05, 2016 3:35 AM

BERLIN (AP) — German factory orders dropped in June as overseas demand — especially within the eurozone — went down sharply.

The economy ministry said Friday that orders went down 0.4 percent after a 0.1 percent increase in May. Orders from inside Germany went up 0.7 percent, while orders from outside the eurozone increased 3.8 percent.

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Demand from other countries in the 19-nation eurozone went down 8.5 percent compared to the previous month.

The ministry said that overall foreign orders decreased 1.2 percent.