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- German factory orders down 7.4% in January
German factory orders down 7.4% in January
Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had decreased in January 2017 a seasonally and working-day adjusted 7.4% on December 2016. For December 2016, they increased by 5.2% compared with November 2016, thus confirming the provisional result published in the previous month. Price-adjusted new orders without major orders in manufacturing had decreased in January 2017 a seasonally and working-day adjusted 2.9% on December 2016.
In January 2017, domestic orders decreased by 10.5% and foreign orders by 4.9% on the previous month. New orders from the euro area were down 7.8% on the previous month, new orders from other countries decreased 2.9% compared to December 2016.
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