German industrial orders fell sharply in August, coming in well below market expectations and signaling renewed weakness in the country’s manufacturing sector.
German Industrial Orders Fall 10.6%
According to Germany’s Federal Statistical Office, industrial orders declined by 10.6% month over month in August on a seasonally and calendar-adjusted basis.
The drop was significantly larger than economists had anticipated.
Economists Expected a Much Smaller Decline
A Reuters survey of analysts had forecast a decline of just 1.0% for the month.
The much steeper fall highlights the pressure facing Germany’s industrial economy and could add to concerns about the outlook for manufacturing activity.
Additional economic data is available through Germany’s Federal Statistical Office.
