German factory orders slide 7.4pc
German factory orders plunged at the steepest pace in eight years as demand for investment goods eroded. Orders, adjusted for seasonal swings and inflation, fell 7.4 per cent from December, when they increased 5.2 per cent, data from the Economy Ministry, here, showed yesterday. That’s the biggest drop since January 2009.
The typically volatile reading compares with a median estimate for a 2.5 per cent decline in a Bloomberg survey. Orders were down 0.8 per cent from a year earlier.