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German industrial orders drop much more than forecast in May
[BERLIN] German industrial orders fell far more than expected in May, data showed on Friday, and the Economy Ministry warned that this sector of Europe's largest economy was likely to remain weak in the coming months.
Contracts for "Made in Germany" goods were down by 2.2 per cent compared to the previous month, the Economy Ministry said. That undershot the Reuters consensus forecast for a 0.1 per cent decline.
The reading for April was revised up to an increase of 0.4 per cent from a previously reported 0.3 per cent rise.