German factory orders unexpectedly drop 0.6 pct in September

AP News
Posted: Nov 07, 2016 2:55 AM

BERLIN (AP) — Factory orders in Germany unexpectedly fell in September following two months of gains, led by lower demand from other countries in the eurozone.

The Economy Ministry said Monday that orders in Europe's biggest economy were down 0.6 percent compared with the previous month. Economists had forecast a gain of 0.3 percent, following a 0.9 percent increase in August.

The data showed a 4.5 percent drop in orders from other countries in the 19-nation eurozone and a 1.1 percent fall in demand from inside Germany. Orders from countries outside the eurozone were up 2.5 percent.

ING-DiBa economist Carsten Brzeski said orders have been growing on average by 0.1 percent a month this year and "it is hard to see how the German industry can shift to higher gear."