martedì 6 settembre 2011

German factory orders lower than expected in July

Factory orders fell by 2.8% m/m in July, led by the 7.4% m/m decline in orders from abroad, while domestic orders rose by 3.6% m/m. Market expectations were for a decline by 1.5% m/m. Compared to the same period 1 year ago factory orders rose by 8.7%. The data is a clear indication that the weakening of international economy is having a negative impact on the German industrial sector, in line with the indications come from the IFO business index.

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