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German factory orders drop in June as eurozone demand sinks

BERLIN – German factory orders dropped in June as overseas demand — especially within the eurozone — went down sharply.

The economy ministry said Friday that orders went down 0.4 per cent after a 0.1 per cent increase in May. Orders from inside Germany went up 0.7 per cent, while orders from outside the eurozone increased 3.8 per cent.

Demand from other countries in the 19-nation eurozone went down 8.5 per cent compared to the previous month.

The ministry said that overall foreign orders decreased 1.2 per cent.