German orders post biggest drop since start of 2009 in August
Tuesday, 7 October 2014 02:22
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REUTERS: German industrial orders posted their biggest drop in August since the height of the global financial crisis in 2009 due to the subdued euro zone economy and uncertainty caused by crises abroad, data from the Economy Ministry showed on Monday.
Contracts plunged by 5.7% on the month, undershooting by far the Reuters consensus forecast for a 2.5% drop.
Bookings from the euro zone slumped by 5.7% while domestic orders decreased by 2.0%.
The data for July was revised up to a rise of 4.9% from a previously reported gain of 4.6%.
