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German industrial orders fall far more than forecast in April
June 7, 2017 / 6:09 AM / 3 months ago

German industrial orders fall far more than forecast in April

BERLIN, June 7 (Reuters) - German industrial orders dropped way more than expected in April, data showed on Wednesday, suggesting this sector of Europe's largest economy started the second quarter on a weak footing.

Factories saw their orders slump by 2.1 percent in April after contracts for 'Made in Germany' goods rose in the previous two months, data from the Economy Ministry showed.

That undershot by a long stretch the Reuters consensus forecast for a 0.4 percent drop and followed a slightly upwardly revised increase of 1.1 percent in March.

The Economy Ministry said the number of large-scale contracts was below average for April and adjusted to take account of that, orders would have been unchanged on the month.

A breakdown of the April data showed domestic demand decreased by 0.2 percent and foreign orders slumped by 3.4 percent. (Reporting by Michelle Martin; Editing by Madeline Chambers)

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