-10.6%: Germany’s Factory Orders fall in August, missed -1.0% estimates
Germany's Factory Orders dropped in August, suggesting that the country’s manufacturing sector activity lost momentum, according to the official data published by the Federal Statistics Office on Tuesday.
In August, Germany's factory orders declined by 10.6% compared to the same month last year, falling short of the estimated 1.0% decrease. The previous month's orders had risen by 3.2% (revised from 2.5%). Despite the dip, factory orders still increased by 2.7% year-over-year. The Euro saw a slight dip in reaction to the data, trading at 1.1212 against the US Dollar.
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