Germany Factory Orders Fall Unexpectedly In November

Germany's factory orders decreased unexpectedly in November, figures from Destatis revealed Wednesday.

New orders in manufacturing fell 1.3 percent, confounding expectations for an increase of 0.2 percent. Orders had increased by a revised 0.2 percent in October.

Domestic orders grew 1.6 percent, while foreign orders fell 3.1 percent in November. Demand from the euro area was down 3.3 percent and that from other countries decreased 2.8 percent.

On a yearly basis, factory orders plunged 6.5 percent after easing 5.6 percent a month ago. Economists had forecast an annual decrease of 4.7 percent.

Data showed that manufacturing turnover dropped 0.5 percent on month, following a 0.1 percent decrease in October.



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