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German Factory Orders Fall More Than Expected

Germany's manufacturing new orders decreased for the first time in four months in November and the fall was worst than expected, preliminary data from Destatis showed on Monday.

Factory orders decreased a calendar and seasonally adjusted 1 percent from October, when they grew 0.2 percent, revised from 0.3 percent reported earlier.

Economists had forecast a modest decline of 0.1 percent.

The latest fall was the most severe since a 3.6 percent slump in June.

Domestic orders increased 2.4 percent and decreased 3.2 percent from the previous month.

Demand from the euro area dropped 11.6 percent, while orders from other countries grew 2.3 percent.

Orders for manufacture of intermediate goods and consumer goods decreased 4.4 percent and 3.2 percent, respectively, in November, while that for capital goods increased 1.4 percent.

On a year-on-year basis, factory orders decreased 4.3 percent in November after a 3 percent drop in October. Economists had expected a 2.7 percent decline.

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