German industrial orders collapse ...News

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German industrial orders collapse
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Analysts warn that the EU’s largest economy could suffer another recession New orders for German-made industrial goods suffered their sharpest drop so far this year in August, the latest provisional data from the statistics bureau Destatis showed on Monday. Factory orders in manufacturing were down 5.8% in August from the previous month, and down 3.9% year-on-year. The figures defied analyst forecasts of a 1.9% decline. Destatis attributed the severity of the month-on-month slump mainly to the high-base effect of the previous month, when large orders were placed in what is classified as ‘other vehicle construction

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