June 7, 2018 / 6:07 AM / 9 months ago

German industrial orders post fourth drop in a row in April

BERLIN, June 7 (Reuters) - German industrial orders plunged unexpectedly in April, with data showing a fourth consecutive monthly drop on Thursday, suggesting that factories in Europe’s largest economy will shift into a lower gear over coming months.

The Federal Statistics Office said contracts for ‘Made in Germany’ goods were down by 2.5 percent after a downwardly revised drop of 1.1 percent the previous month.

The reading undershot a Reuters poll of analysts who had predicted a 0.8 percent rise. (Reporting by Michael Nienaber, editing by Thomas Escritt)

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