German industrial orders plunge in December
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.