German factory orders plummet
German factory orders fell more than expected in July, official data showed Wednesday, in the latest setback for Europe's largest economy as it grapples with an industrial slowdown.
New orders, closely watched as a sign of future economic activity, plummeted by 11.7 percent compared with the previous month, federal statistics agency Destatis said.
The steep fall was mainly down to the comparison with June, Destatis said, when the indicator leapt by a surprising 7.6 percent on the back of several large orders including a major one in the aerospace sector.
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