Surprise fall in German industrial orders

Surprise fall in German industrial orders”

Industrial production in Germany failed to recover in July from a slide the previous month, official data showed Thursday, with a flat result disappointing analysts' hopes for a return to growth.

Industrial output was unchanged compared with June, as a sharp drop in energy production outweighed small gains in manufacturing and construction, according to Germany's Federal Statistical Office. The data factor out calendar effects. Orders were forecast to climb 0.2 percent in July. Orders from the euro area decreased 1 percent, which was offset by a 0.6 percent rise in incoming orders from other countries. However, total industrial output was still up 4% from July a year ago.

Demand for German-made goods was down across all sectors, with orders for producer goods and capital goods falling by 0.4 percent and 0.7 percent respectively, while there was a 3.0-percent drop in orders for consumer goods. "Some pause in this trend was bound to happen", said analyst Carsten Brzeski of ING Diba bank, pointing also to an unexpected fall in industrial orders in July.

The economy ministry said German companies received as many orders as they had before the outbreak of financial crisis in 2008.

Like this


07 September 2017
Powerful 'Mudbound' Trailer Portrays Racial Turmoil In The Jim Crow South
Mudbound launches on Netflix and in select movie theatres on Friday, November 17. Blige, Rob Morgan, Jonathan Banks and Garrett Hedlund star.

07 September 2017
No. 1 Nadal crushes Dolgopolov, returns to US Open quarters
Karolina Pliskova maintained her hopes of claiming a maiden Grand Slam title with an emphatic dismissal of Jennifer Brady. Open junior title, she finally got past a major quarterfinal in Australia, then needed only eight months to do it again.

07 September 2017
Playing overseas an option as Vardy refuses to rule out Leicester exit
I've spoken about it with my agent [John Morris] in the past. "We'll have to wait and see what happens", he stated. That was something to think about. "But there were all sorts of reasons".

07 September 2017
New iPhone UK release date expected to be 22 September
While waiting, fans can check out the official introduction video for Apple's iPhone 7 below. However, Kuo's note doesn't confirm if Touch ID will indeed be killed off in the iPhone 8.

07 September 2017
Lionel Messi And Argentina May Miss 2018 World Cup After Venezuela Draw
Uruguay moved up to second after beating Paraguay 2-1 while Peru beat Ecuador by the same scoreline to move up to fourth. Both sides are level on nine points after eight games with United States of America fourth and Honduras fifth.

07 September 2017
Schoolteachers on edge as Trump mulls changing 'Dreamers' policy
What to do about the so-called Dreamers has been actively debated within the White House and Trump administration. Dick Durbin, D-Ill., and Lindsey Graham, R-S.C., that would grant legal status to many Dreamers.

07 September 2017
What's Next for AngloGold Ashanti Limited (ADR) (AU) After Today's Huge Increase?
AngloGold Ashanti Limited (ADR) (NYSE:AU) has declined 18.89% since September 5, 2016 and is downtrending. Moreover, Hsbc Public Limited Co has 0.02% invested in Brixmor Property Group Inc (NYSE:BRX).

07 September 2017
IT Sequel Will Explore History of Pennywise
Talking about his role in the flick, the Atomic Blonde actor said, "Playing Pennywise was often physically exhausting". It is directed by the Andy Muschietti while written by Chase Palmer, Cary Fukunaga along with Gary Dauberman .

07 September 2017
Six Ministers Including Rudy, Mishra Dropped In PM Modi's Cabinet Reshuffle
On Sunday, PM Modi not just inducted new faces in his Cabinet, but also promoted some with potential and talent to work. Both these ministries are facing huge challenge.

07 September 2017
Israeli jets target 'chemical site' in Syria
It was not immediately clear if the facility struck Thursday was used for the production or storage of chemical weapons .