german industrial orders plunge by 7 percent in january
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

German industrial orders plunge by 7 percent in January

Arab Today, arab today

Arab Today, arab today German industrial orders plunge by 7 percent in January

Industrial orders in Germany plunged 7.4%
Frankfurt am Main - AFP

Industrial orders in Europe's largest economy Germany plunged 7.4 percent in January, preliminary official data showed on Tuesday, countering a sharp upswing in the previous month.
New orders -- a closely watched indicator of future economic performance -- had increased 5.2 percent in December, adjusting for price, seasonal and calendar effects, federal statistics office Destatis confirmed.
Analysts surveyed by Factset had predicted a much smaller fall in January of 2.5 percent.
Domestic demand for German industrial firms' products fell much more sharply than foreign orders, at 10.5 percent compared with 4.9 percent, with orders from the eurozone contracting faster than those from countries outside the single currency area.
The biggest fall came for capital goods makers, who saw 9.9 percent fewer orders, while producer goods firms lost 4.0 percent and consumer goods 2.0 percent.
January's data showed a smaller fall of 2.9 percent in orders when large contracts -- a volatile item that can see large swings from month to month -- were stripped out, Destatis said.
"Industrial orders were extremely influenced by large contracts in the last two months reported (December and January)," the federal economy ministry in Berlin commented in a statement.
"Even ruling out large contracts, the strong increase in orders in the final quarter of 2016 makes a weak start to the new year manageable," the civil servants went on.
Comparing December plus January to October plus November showed a fall of just 0.4 percent in orders, the economy ministry pointed out.
Berlin also highlighted strong confidence surveys among industrial firms, suggesting a pick-up in business in the coming months.
"Today's disappointing data is a good reminder that German industry is having more problems returning to full speed than buoyant sentiment indicators have been suggesting," countered economist Carsten Brzeski of ING Diba bank.
January's drop in new orders was the largest since 2009, he noted, following on from months of "almost unprecedented" fluctuations in the indicator since last summer.
Heightened uncertainty has weighed on business since June 2016, when Britain voted to quit the EU, and been sustained by Donald Trump capturing the White House on a protectionist platform, as well as upcoming elections in the Netherlands, France, and Germany in which anti-globalisation parties stand to make strides.


Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german industrial orders plunge by 7 percent in january german industrial orders plunge by 7 percent in january

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german industrial orders plunge by 7 percent in january german industrial orders plunge by 7 percent in january

 



GMT 12:49 2017 Wednesday ,06 September

Senegal wants to buy 10 units of ship from PT PAL Indonesia

GMT 22:57 2017 Wednesday ,01 March

Trump lays out his vision of America to Congress

GMT 21:08 2017 Sunday ,17 September

OIC condemns suicide attack in Cameroon

GMT 00:59 2017 Sunday ,10 December

hmad Zahid's Visit To Rohingya Camp

GMT 02:25 2017 Friday ,24 February

Pope in emotion-charged visit to Italy quake zone

GMT 22:26 2016 Thursday ,22 September

Indian market closes higher

GMT 05:52 2016 Wednesday ,05 October

Robin Williams’ widow details actor’s final days

GMT 18:42 2017 Saturday ,07 October

Education, Works ministries discuss cooperation

GMT 03:11 2017 Friday ,14 April

5 Sudanese soldiers killed in Yemen

GMT 15:35 2017 Saturday ,25 February

United Nations chief arrives in Saudi

GMT 20:47 2017 Saturday ,07 October

PM asserts to bolster relations with Egypt

GMT 07:09 2017 Wednesday ,29 March

Ellie Goulding to Open Mawazine Festival

GMT 05:01 2017 Friday ,05 May

Arab Media Forum begins in Dubai

GMT 01:12 2017 Wednesday ,18 October

Fights against climate change, terrorism linked

GMT 06:59 2017 Monday ,13 February

Disney parks in US increases prices again

GMT 14:36 2017 Wednesday ,04 January

Record-chasing Chelsea face test

GMT 14:34 2016 Sunday ,14 August

United States wins 1000th Olympic gold medal
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday