Germany's factory orders declined 1.9 percent in April from a month ago when it grew 3.2 percent, the Federal Ministry of Economy and Technology said Tuesday. The rate of decline exceeded the 1.1 percent drop forecast by economists.
Orders adjusted for calendar effects, plunged 3.8 percent annually after easing 0.2 percent in the prior month. The decline matched economists' expectations.
On an unadjusted basis, factory orders dropped at a faster pace of 3.7 percent year-on-year, following a 2 percent fall in March.
by RTT Staff Writer
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