German Industrial Motor Sputters in August

Oct. 5, 2012
Orders fell by 1.3% from July, adding to evidence that Europe's economic engine is losing steam as the eurozone debt crisis weighs.

Industrial orders in Germany, a key gauge of the future trend in Europe's top economy, plunged in August, according to official data published on Friday, as demand from within the country fell sharply.

The economy ministry said that industrial orders fell by 1.3% in August from July, adding to evidence that Europe's economic engine is losing steam as the eurozone debt crisis weighs.

The decline was more pronounced than the 0.5% drop analysts surveyed by Dow Jones Newswires had predicted.

The drop was due to a dip in domestic demand, which fell by 3%. Foreign orders were stable on the month.

"Orders for German industry have weakened, as expected in an overall weaker economic environment," the ministry said.

"At the same time, we are not getting a picture of a strong decline in economic activity," added the statement.

Orders rose by 0.3% in July, a downward revision from the 0.5% originally published.

Over the two-month period July-August, orders were down 1.2% compared to May-June, again due to a drop in domestic orders.

Copyright Agence France-Presse, 2012

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!