German factory orders plunge 5.7% in August

[FRANKFURT] German factory orders plunged the most since 2009, underlining the risk of a slowdown in Europe's largest economy.

Orders, adjusted for seasonal swings and inflation, fell 5.7 per cent in August, after climbing 4.9 per cent in July, the Economy Ministry in Berlin said on Monday. Economists predicted a 2.5 per cent decline, according to the median of 33 estimates in a Bloomberg News survey.

Deteriorating confidence is undermining a rebound in Germany's economy from a second-quarter slump. The 18-nation euro region is struggling to sustain its recovery amid rising political tension with Russia and inflation that's running at a fraction of the European Central Bank's definition of price stability.