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German Industrial Orders Drop in September as Foreign Demand Dives

Started by Epoch-Times-Bot, Nov 04, 2022, 12:45 PM

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Epoch-Times-Bot

German Industrial Orders Drop in September as Foreign Demand Dives

BERLIN—German industrial orders fell by more than expected in September as foreign demand slumped, putting Europe’s largest economy on course for recession, data showed on Friday.
New orders fell by 4.0 percent on the month on a seasonally and calendar adjusted basis, the Federal Statistics Office said. A Reuters poll of analysts had pointed to a fall of 0.5 percent in September.
Germany staved off the threat of recession in the third quarter with unexpected growth, but the economy remained in choppy waters as high inflation driven by a painful energy standoff with Russia surged, data showed last Friday.
The orders data underlined the headwinds Germany is facing as the sluggish global economy, materials shortages and the energy crisis hamper production....

Source: German Industrial Orders Drop in September as Foreign Demand Dives


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