German industrial orders unexpectedly down as domestic demand falls
Published: 02:06 PM,Jun 07,2021 | EDITED : 06:06 PM,Jun 07,2021
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German industrial orders unexpectedly fell for the first time in four months in April as domestic demand dropped, official data showed on Monday.
Orders were down 0.2 per cent compared to March, according to federal statistics office Destatis, though analysts surveyed by financial data firm Factset had expected another month of growth.
On an annual basis, however, new orders surged by 79 per cent compared April 2020, when they dropped to their lowest level on record as economic activity shut down due to the coronavirus pandemic. — AFP
Orders were down 0.2 per cent compared to March, according to federal statistics office Destatis, though analysts surveyed by financial data firm Factset had expected another month of growth.
On an annual basis, however, new orders surged by 79 per cent compared April 2020, when they dropped to their lowest level on record as economic activity shut down due to the coronavirus pandemic. — AFP