German industrial orders fall unexpectedly in November
BERLIN - German industrial orders fell unexpectedly in November on weak foreign demand and a lack of major contracts, data showed on Wednesday, suggesting that a manufacturing slump will continue to hamper overall growth in Europe’s largest economy.
“The misery in manufacturing continues,” VP Bank economist Thomas Gitzel said, noting that the military escalation between the United States and Iran was now posing an additional risk for businesses. Without bulk orders, industrial orders rose 1.0% in November, the economy ministry said, adding that the sector’s incoming orders had stabilized at a low level in recent months.
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