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Industry News
9th August 2016

German manufacturing data point to sluggish economy

Manufacturing orders in Germany surprisingly declined on the month in June on a sharp drop in orders from within the Eurozone, data from the country's economy ministry showed Friday. The data point to stagnation in the country's key industrial sector and suggest only moderate economic growth in coming months in Europe's largest economy. Orders fell by 0.4% in adjusted terms versus expectations in a Wall Street Journal survey of 0.5% growth. Foreign orders declined by 1.2% while domestic orders rose by 0.7%. The data showed that orders from the rest of the Eurozone sharply fell by 8.5% on the month, while those from non-Eurozone states rose by 3.8%.

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