10/6, 8:01 AM (Source: TeleTrader)
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German factory orders fall by 2.4% in August

Seasonally and price-adjusted new factory orders in Germany slipped by 2.4% in August compared to the previous month, the country's Federal Statistical Office Destatis said in a report published on Thursday. New orders slumped by 4.1% year-over-year.

On a monthly basis, foreign orders fell by 1.7%, and domestic orders dropped by 3.4% in August. Orders from the Eurozone contracted by 3.8%, while orders from outside of the euro area went down by 0.4% in comparison to July.

Orders of capital goods decreased by 2.4% month on month and orders of intermediate and consumer goods plummeted by 4.2% and 5.2% respectively, in August compared to the month prior, according to the report.

Baha Breaking News (BBN) / AB