GERMAN FACTORY ORDERS UNEXPECTEDLY PLUNGE 2.7%

angela merkel

Photo: AP Images

ORIGINAL POST: A big datapoint coming up in Europe at 6:00 AM ET.German factory orders. Analysts expect a sequential 0.6% increase for January, though a 1.7% decrease from the year before.

We’ll have the number here LIVE.

UPDATE: Huge miss…

German factory orders fell 2.7% in January… MUCH worse than the 0.6% that was expected.

On an annualized basis, they fell a whopping 4.9%, again, far worse than the 1.7% decline that analysts had anticipated.

According to Markit, a major culprit was a 5.5% decline in foreign demand.

To get an idea of what this means for the German economy on the whole, just check out this chart from Reuters’s Scott Barber (@scottybarber):

german industrial orders and gdp

Photo: Scott Barber via Twitter

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

germany moneygame-us