BERLIN, March 7 A sharp fall in domestic and
euro zone demand drove the biggest monthly slump in German
industrial orders in eight years in January, data showed on
Contracts for 'Made in Germany' goods were down by 7.4
percent on the month, the Economy Ministry said. That was the
biggest monthly drop since January 2009 and was almost three
times below the Reuters consensus forecast for a fall of 2.5
The Economy Ministry said high demand in the fourth-quarter
of 2016 resulted in the weak start to 2017. It expects
industrial orders to rebound later this year.
In December, orders rose by 5.2 percent, the highest
increase since July 2014.
A breakdown of the January data, showed that domestic demand
fell by 10.5 percent, foreign orders by 4.9 percent, driven by a
7.8 percent fall in demand from the euro zone.
(Reporting by Joseph Nasr; Editing by Madeline Chambers)