German factory orders fell 11.3% in January, driven by a decline in major orders.

German factory orders fell sharply by 11.3% in January compared to December, driven by a decline in major orders after a strong December. Domestic and foreign orders also decreased, with euro area orders down by 25.7%. This downturn in manufacturing activity comes amidst Europe's largest economy facing difficulties, as its manufacturing sector continues to weaken and may now be in a recession.