German industrial orders disappoint in April
German industrial orders, a key measure of demand for German-made goods both at home and abroad, fell sharply in April, underlying the still fragile state of the country's key manufacturing sector, data showed Thursday.
Following two months of consecutive increases, industrial orders suffered a setback in April, dragged down by falling domestic demand and a below-average number of big-ticket orders, the economy ministry said in a statement.
Industrial orders dropped by 2.3 percent in April compared with March, after rising by the same magnitude the previous month.
Analysts had been projecting a more modest decline.
By contrast however, orders for consumer goods leapt by 7.5 percent.
"All in all, German factory orders suggest that manufacturing activity has started the second quarter on a soft tone after the surprising resilience registered in the first quarter," said Newedge Strategy analyst Annalisa Piazza.
© 2013 AFP