BERLIN – German factory orders declined slightly more than expected in December, dragged down by lower demand at home and in other eurozone countries.
The Economy Ministry said Friday that orders were down 0.7 per cent compared with the previous month, more than the 0.5 per cent drop economists had forecast. That followed two months of solid gains.
Orders from inside Germany were down 2.5 per cent and demand from other eurozone countries dropped 6.9 per cent. However, orders from outside the euro area increased 5.5 per cent.
The government recently trimmed its growth forecast for the German economy, Europe’s biggest, to 1.7 per cent this year from 1.8 per cent amid concerns over weakening growth abroad and global political tensions. The economy grew by 1.7 per cent last year.