Tags: EU | Germany | Economy

German Factory Orders Drop in July

Friday, 04 September 2015 05:04 AM EDT

BERLIN (AP) — German factory orders dropped a larger than expected 1.4 percent in July compared to the previous month, dragged down by flagging foreign demand.

The Federal Statistical Office reported Friday that it revised June's 2 percent increase downward to a rise of 1.8 percent, adjusted for seasonal and calendar factors.

In July, domestic orders increased by 4.1 percent but foreign orders decreased 5.2 percent. New orders from the euro currency area were up 2.2 percent, but new orders from other countries dropped 9.5 percent.

UniCredit economist Andreas Rees says the July drop, greater than the 0.6 percent drop predicted by analysts, seems more of a "technical breather after a strong rally" than a matter for concern.

Rees says the strong rises in both eurozone and domestic demand are "outright positive details."

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
German factory orders dropped a larger than expected 1.4 percent in July compared to the previous month, dragged down by flagging foreign demand.The Federal Statistical Office reported Friday that it revised June's 2 percent increase downward to a rise of 1.8 percent,...
EU,Germany,Economy
132
2015-04-04
Friday, 04 September 2015 05:04 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved