CAPTION: German factory orders saw bigger fall than expected for August (picture alliance/dpa)
Germany's factory orders declined more than expected in August, data from Destatis showed.
New manufacturing orders decreased 2.4% month-on-month in August, reversing a revised 1.9% rise in July. Economists had forecast a moderate 0.7% drop in August.
Excluding large-scale orders, there was an increase of 0.8%, data showed.
Domestic orders and foreign orders fell 3.4% and 1.7%, respectively. Manufacturers of capital goods recorded a decrease of 2.4% in August. Likewise, orders for intermediate goods slid 4.2%.
On the other hand, consumer goods orders went up 5.2%. On a yearly basis, new orders were down 4.1%, after a sharp 11.0% decline in July. Further, data showed that manufacturing turnover grew 1.0% on the month, in contrast to the revised 2.0% fall in July.
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