Up just 0.8% in September. Analysts expected a 2.3% boost. Orders are now down 1% on September last year.
Last month’s absolutely dreadful 5.7% drop (now revised to 4.2%) brought Germany’s economy under scrutiny for all the wrong reasons. Economists had expected some recovery from that dip, but it hasn’t materialised.
Here’s a chart of orders for Germany from Pantheon Macroeconomics, showing the slide in the year-on-year figure:
Domestic orders took the biggest hit, down 2.8% (following a 2% hit the previous month).
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