German factory orders unexpectedly fell 1.6% in May, marking the fifth consecutive decline.
German factory orders unexpectedly fell 1.6% in May, marking the fifth consecutive decline and contradicting predictions of a 0.5% increase. Foreign demand decreased, with new orders in transport equipment and automotive industries dropping. This weakened momentum in Germany's manufacturing industry and hints at subdued growth in coming months as global trade recovery is needed for order stabilization.
July 04, 2024
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