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German Manufacturing Orders Plunge
German factory orders unexpectedly plunged in February, adding to evidence that Europe’s largest economy is some way off from overcoming a painful slump in industry. Orders were down 4.2 percent, way off economists’ expectations for a 0.3 percent gain. A drop the previous month was revised, but still showed a 2.1 percent decline on the back of weakening global investment demand. “Manufacturing momentum will continue to be subdued in the coming months, particularly due to lacking external demand,” the Economy Ministry said. The euro erased its gain after the report was published. It was little changed at ... (full story)
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