Surprise drop in German factory orders

Orders from euro zone slump in run-up to Brexit vote

5th August, 2016
German factory orders down Pic: Getty

German factory orders unexpectedly declined in June as demand for investment goods from within the euro area slumped in the run-up to Britain’s referendum on European Union membership.

Orders, adjusted for seasonal swings and inflation, fell 0.4 per cent from May, when they rose a revised 0.1 perc ent, data from the Economy Ministry in Berlin showed. That was the third consecutive month demand remained below economists’ estimates. The median in a Bloomberg...

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