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A lot less orders for German industry

Economists are worried about the German economy: In February, the strongest job was recorded break-in in two years. The reason is the sharp drop in demand from

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A lot less orders for German industry

Economists are worried about the German economy: In February, the strongest job was recorded break-in in two years. The reason is the sharp drop in demand from abroad.

The German industry has suffered in February, is surprisingly the strongest drop in orders in more than two years. The new business in the manufacturing sector shrank, mainly due to a weak foreign demand by 4.2 per cent month-on-month, according to the Federal Ministry of economic Affairs. Already in January, the orders were declined by 2.1 percent.

"In February, the areas of both domestic and foreign goods in the most economic and less orders," said the Ministry. In the coming months, demand was expected, particularly due to a lack of foreign to continue with a subdued Industrial activity.

In terms of order intake from abroad, the Federal Statistical office reported a decline of six percent in the monthly comparison. Domestic orders fell only 1.6 percent.

Economists surprised

Economists were of the downward momentum surprised. Expected a slight increase of 0.3 percent. The main cause is the current economic weakness in China, one of the most important German trading partners.

"The order intake indicate a clear downturn," said Thomas Gitzel, chief economist of VP Bank. The duration of the downturn would depend crucially on the economic measures of the government in China. "Another major setback," said Jens-Oliver Niklasch of LBBW. "The industrial economy is almost in free fall."

economy: "the boom is over", 19.03.2019 Atlas |Germany |Wiesbaden

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