Slump: New factory orders in Germany fell 1.6% in MayGermany’s economy suffered a fresh blow after official figures showed factory orders fell for a fifth month in a row in May. The 1.6 per cent decline compared to the previous month came as a surprise to economists, who expected a rise of 0.5 per cent. New orders are down by 8.6 per cent on the same month last year. The latest official figures from Germany come after a separate purchasing managers’ index survey this week suggested that the gloom in the country’s factory sector extended into June. By contrast, figures from the UK showed manufacturers enjoying their strongest spell of growth for more than two years – though this slowed slightly last month.

Source: Daily Mail July 04, 2024 21:05 UTC