German Factory Orders Fall Most Since August

Germany's factory orders declined at the fastest pace since last August, data released by Destatis showed Thursday.

Factory orders fell 3.9 percent in January from the prior month, which was the biggest drop since August, when it plunged 4.2 percent. Economists had forecast a 1 percent drop in January after rising 4.4 percent in December.

Domestic orders decreased 2.5 percent and foreign orders declined 4.8 percent.

Within foreign orders, new orders from the euro area were down 9 percent on the previous month, and new orders from other countries declined by 2.2 percent.

In January, the manufacturers of intermediate and capital goods registered decreases in orders of 3.8 percent and 4.2 percent, respectively. For consumer goods, a decrease in orders of 0.6 percent was recorded.

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