Drop in foreign demand hits industrial orders

Drop in foreign demand hits industrial orders
Photo: DPA
Industrial orders in Germany fell more sharply than expected in April, hit hard by a drop in foreign orders, new data showed on Tuesday.

The economy ministry said in a statement that industrial orders fell by 1.9 percent in April from March, partially wiping out the 3.2-percent increase seen the previous month.

Analysts polled by Dow Jones had been expecting a more modest decline of around 1.0 percent.

The number of big-ticket orders in April was “below average,” the ministry said.

Furthermore, the decline in the overall figure was largely due to a 3.6-percent decline in foreign orders, while domestic orders edged up by 0.4 percent.

By sector, orders for capital goods were down by 3.3 percent month-on-month in April and consumer goods orders dropped by 5.0 percent, while orders of semi-manufactured goods rose by 0.9 percent, the data showed.

AFP/hc


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