Industrial Orders in Germany Fall Sharply in June

Orders from abroad fell 5.1%

German industrial orders posted a surprise, sharp fall in June, data showed on August 6, adding to evidence that Europe's biggest economy has weakened sharply. According to preliminary figures released by the economy ministry, orders fell by 2.9% in June from May when adjusted for price and seasonal effects -- much worse than expected by economists who had forecast a rise of 0.5%.

Domestic orders fell by 0.6% and orders from abroad plunged by 5.1%, the ministry said.

A report in the Sueddeutsche Zeitung on August 5 quoted government experts as saying that in the second quarter of 2008, the German economy contracted by 1% after growing by 1.5% in the first three months of the year.

Copyright Agence France-Presse, 2008

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