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Wednesday 02nd of March 2011
February 7, 2011    

German industrial orders plunge in December

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by Kay Murchie

The Economy Ministry has reported German industrial orders fell by 3.4% in December on a monthly basis - due to a severe drop in demand for capital goods from non-euro zone countries.

The fall partially wiped out November’s rise of 5.2%.

However, economists had predicted a sharp fall and Europe’s largest economy continues to lead the way in the recovery for the 17-member nation.

On an annual basis, orders were 22.3% higher in December compared with a year earlier.

Meanwhile, within the 17-nation euro zone, industrial orders grew 3.7% in December - recovering from November’s 1.6% fall.

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