German factory orders slump for third month


Berlin (dpa) – German industrial orders slumped for the third consecutive month in September, sending a warning signal about the outlook for Europe’s biggest economy.

New factory orders dropped month-on-month by an unexpected 1.7 per cent in September after contracting by 1.8 per cent in August, the Ministry of Economics said on Thursday.

Analysts surveyed by dpa-AFX had forecast a 1-per-cent gain. Order books shrunk 2.2 per cent in July.

Dragging the order books down was a 6.7-per-cent fall in demand from Germany’s key trading partners in the eurozone.