Germany’s industrial orders for July are not what Angela Merkel would have ordered to boost her re-election prospects as chancellor this month.
Orders were down 2.7 per cent month-on-month – worse than the 1 per cent decline predicted in a Reuters poll of 34 economists.
The numbers appear to have been dragged down by an 11.7 per cent drop in orders from the EUROPE for German capital goods.
They contrast with June orders that have now been revised upwards to growth of 5 per cent month-on-month from 3.8 per cent.
The economy ministry says a strong level of orders for the second quarter suggested the trend was still upwards.
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