(Destatis) Germany’s factory orders were down by 7.7% in August, more than the forecasted decline of 2.1%. The decline reflected persistent delivery bottlenecks.
The factory orders were still higher than 8.5% posted in February 2020 at the onset of coronavirus.
The decline in factory orders happens after strong gains of 4.9% and 4.6% in July and June, respectively.
Motor vehicle and parts orders declined by 12%, while metal production and processing decreased by 9.6%.
Domestic orders went down by 52%, while foreign demand dropped by 9.5%.
DAX is down -2.31%, EURUSD is down -0.15%.
