Weak demand hits German industry

6th October 2011, Comments 0 comments

Weak domestic demand drove down industrial orders in Germany in August, official data showed Thursday, as signs grow that the eurozone crisis is beginning to take its toll on Europe's top economy.

Industrial orders were down 1.4 percent compared to the same month last year, according to seasonally-adjusted data from the economy ministry.

Last month, orders declined by 2.6 percent, a fractional upwards adjustment.

However, the ministry said there was "special factors" behind the decline.

"The trend in industrial orders has repeatedly been affected by special factors in recent months," the ministry said in a statement.

"On a three-month basis, which smoothes out fluctuations in the individual months, demand continues to trend upwards," added the statement.

© 2011 AFP

0 Comments To This Article