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

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

germany moneygame-us