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German industrial orders slump in November

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German industrial orders, a key measure of demand for German-made goods both at home and abroad, fell sharply in November, weighed down by falling domestic orders, data showed on Thursday.

[FRANKFURT] German industrial orders, a key measure of demand for German-made goods both at home and abroad, fell sharply in November, weighed down by falling domestic orders, data showed on Thursday.

Industrial orders dropped by 2.4 per cent in November compared with the previous month, the economy ministry said in a statement.

In October, German factory orders had risen by 2.9 per cent.

Domestic orders slumped by 4.7 per cent and export orders slipped by 0.7 per cent compared with the previous month.

Orders from the eurozone rose by 2.7 per cent while orders from outside the eurozone were down by 2.6 per cent, the ministry calculated.

By sector, orders for semi-finished goods fell by 2.3 per cent and orders for capital goods slumped by 3.1 per cent, while orders for consumer goods rose by 2.6 per cent.

AFP