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Germany’s factory orders fall 1.2% in February

by ChemOrbis Editorial Team - content@chemorbis.com
  • 05/04/2016 (13:50)
According to data released by Germany’s Economy Ministry, the country’s factory orders unexpectedly fell 1.2% on a seasonal swing and inflation adjusted basis in February compared with a revised gain of 0.5% in the previous month. Bloomberg economists’ estimates called for an increase of 0.3%. On a yearly basis, however, Germany’s factory orders climbed 0.5% in February.

Ongoing weakness in the global economy and stagnant exports due to slowing demand from emerging markets, especially from China, continued to disrupt Germany’s trading activities. The Economy Ministry reported that export orders declined 2.7% in February due to a 3.7% drop in orders from the rest of the euro area. Orders for investment goods also dropped 2.1% while orders for consumer goods slid 7.3%. Domestic orders, however, rose 0.9 % in February.

Bundesbank reported that Germany’s economic growth may decelerate in the second quarter as weakening exports have been causing manufacturers to cut production and employment.
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