German industrial orders post sharp fall in November
Industrial orders in Germany fell by a much bigger-than-expected 4.8 percent in November compared to a month earlier, hit by falling orders from abroad, new data showed Friday.
An increase in orders for October was also revised slightly downwards to 5.0 percent from 5.2 percent, according to the figures released by the Economy Ministry.
Due to the October increase, orders for November had been expected to fall but the figure exceeded the expectations of analysts surveyed by Dow Jones Newswires, who had predicted a fall of 1.7 percent.
Orders from abroad slumped by 7.8 percent in November while those from Germany fell by 1.1 percent, the ministry said in a written statement.
"Even without taking into account big orders, the dynamic of demand is currently weak. In line with forecasts, that signifies limited development for industrial production during the winter months," it said.
© 2012 AFP