BERLIN – Factory orders in Germany unexpectedly fell in September following two months of gains, led by lower demand from other countries in the eurozone.
The Economy Ministry said Monday that orders in Europe’s biggest economy were down 0.6 per cent compared with the previous month. Economists had forecast a gain of 0.3 per cent, following a 0.9 per cent increase in August.
The data showed a 4.5 per cent drop in orders from other countries in the 19-nation eurozone and a 1.1 per cent fall in demand from inside Germany. Orders from countries outside the eurozone were up 2.5 per cent.
ING-DiBa economist Carsten Brzeski said orders have been growing on average by 0.1 per cent a month this year and “it is hard to see how the German industry can shift to higher gear.”