German manufacturing orders drop sharper than expected in January
Orders for manufactured goods have decreased on the month for the second consecutive time on lower domestic demand, and declining orders for capital goods, as the latest report by the German Economic Ministry shows.
The total volume of orders for manufactured goods has declined 1.5% from December to January, when the experts had forecasted a fall of around 0.5%. On the year, manufacture
Figures for the month of December have been revised up to a 1.1% monthly decrease, from the 1.7% fall previously estimated, and the year on year performance has been revised to a 6.2% gain, from the 5.6% increase released previously.
Among the several reasons for Januarys decrease the German economics Ministry has underlined the 1.2% fall in producer goods orders, and the 1.8% decrease in capital goods orders, orders for consumer goods have fallen 0.6% in January. Domestic orders have fallen 1.9% on the month.
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