German factory orders down 4 percent in June
Aug. 06, 2018
BERLIN (AP) — Official data show that factory orders in Germany dropped a steep 4 percent in June compared with the previous month, led lower by a drop in demand from outside the eurozone.
The figure released Monday by the Economy Ministry compared with a gain of 2.6 percent the previous month. The ministry said that orders in the second quarter were down 1.6 percent overall compared with the previous quarter, largely because of lower demand for investment goods such as factory machinery.
In June, orders from inside Germany were down 2.8 percent and those from other countries in the 19-nation eurozone dropped 2.7 percent. Orders from outside the eurozone fell 5.9 percent.
The German economy, Europe's biggest, remains robust, with business confidence high and unemployment low despite some disappointing data this year.