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Germany’s factory orders fall for 2nd straight month in Jan

by ChemOrbis Editorial Team -
  • 07/03/2016 (10:42)
According to data released by Germany’s Economy Ministry, the country’s factory orders fell for a second consecutive month in January, declining by 0.1% on a seasonal swings and inflation adjusted basis from a month earlier. Bloomberg economists’ expectations called for a steeper decline of 0.3% in January.

The decrease was attributed to weakness in the global economy and struggling exports due to slow demand from emerging markets. However, the Ministry also reported that export orders gained 1% in January on the back of a 7.5% increase in orders from the rest of the euro area. Orders for investment goods rose 1.7% while orders for consumer goods climbed 3.9%. Domestic orders and orders for basic goods fell 1.6% and 4%, respectively, in January.
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