German Industrial Orders Down In June

Aug. 4, 2006
Surprising analysts who had expected an increase amid signs of a timid recovery in the eurozone's largest economy, German industrial orders fell 0.5% in June on a monthly basis. Analysts had forecast a 1.4% rise in orders. It was the second monthly fall ...

Surprising analysts who had expected an increase amid signs of a timid recovery in the eurozone's largest economy, German industrial orders fell 0.5% in June on a monthly basis. Analysts had forecast a 1.4% rise in orders.

It was the second monthly fall in a row after orders had contracted by 1.5% in May.

"The vitality of orders has weakened in recent months," the economy ministry said in a statement. It blamed the start of the summer holiday period in the highly industrialized state of North-Rhine Westphalia for the dip.

Orders for consumer goods fell 4.2% after climbing 2.4% in May. Domestic orders decreased 4.5% against a 3.9% fall in foreign orders.

The German government foresees economic growth this year of 1.6% growth after 1% in 2005.

Copyright Agence France-Presse, 2006

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2024. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.

Sponsored Recommendations

Voice your opinion!

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