German industrial orders drop in March

7th May 2014, Comments 0 comments

German industrial orders, a key measure of demand for German-made goods both at home and abroad, fell in March, weighed down by falling eurozone orders, data showed on Wednesday.

Industrial orders were down 2.8 in March compared with the level the previous month, the economy ministry said in a statement.

In February, factory orders had increased by 0.9 percent.

The ministry said that domestic orders slipped by 0.6 percent and export orders were down by as much as 4.6 percent.

Orders from the eurozone nose-dived by 9.4 percent.

By sector, orders for semi-finished goods fell by 1.2 percent and orders for capital goods dropped by 3.6 percent, while orders for consumer goods tumbled by 5.3 percent.

Taking January to March combined to iron out short-term fluctuations, overall orders stagnated, the ministry calculated.

© 2014 AFP

0 Comments To This Article