German factory orders fall in September

[FRANKFURT] German industrial orders, a key measure of demand for goods in Europe's top economy, fell in September, weighed down by declining demand from the euro area, the economy ministry said on Thursday.

Provisional official data showed a decrease of 1.7 per cent month-on-month, following declines of 1.8 per cent in August and 2.2 per cent in July.

Analysts polled by financial services firm FactSet had pencilled in an increase of 1.0 per cent for September.

The decline was attributable to weaker foreign demand for German-made goods. Export orders fell by 2.4 per cent, while domestic orders slipped by 0.6 per cent, the ministry calculated.

Orders from the eurozone tumbled by 6.7 per cent, while orders from outside the single currency area edged up 0.7 per cent.

AFP