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German industry orders fall more than expected in November
January 6, 2017 / 7:07 AM / a year ago

German industry orders fall more than expected in November

BERLIN, Jan 6 (Reuters) - Weak demand both at home and abroad drove a bigger-than-expected fall in German industrial orders in November, marking a slight correction after a surge in the prior month, data showed on Friday.

Contracts for goods ‘Made in Germany’ were down by 2.5 percent on the month, the Economy Ministry said. That was the biggest monthly drop since November 2014 and compared with a Reuters consensus forecast for a fall of 2.3 percent.

Domestic demand decreased 2.8 percent while foreign orders fell 2.3 percent, with demand from euro zone countries down 2.7 percent.

The data for October was revised up to a rise of 5.0 percent from a previously reported increase of 4.9 percent. This marked the biggest monthly rise since July 2014. (Reporting by Michael Nienaber; Editing by Paul Carrel)

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