Germany’s industrial orders signal future slowdown in economy
Germany’s Economy Ministry stated that contracts for locally produced goods increased by 0.2% in July, weaker than economists’ forecasts of a 0.5% rise. Overall domestic demand declined 3% and foreign orders increased 2.5% with the support of demand from Eurozone countries.
Economists commented that global activity has been affected by economic and political uncertainty, highlighting Britain’s decision to leave the EU and the upcoming presidential election in the US.
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