German factory orders fell sharply by 5.8% in August 2024, marking the steepest decline since January of the same year. This unexpected drop was largely driven by weakened demand from both domestic and foreign markets, particularly from the Eurozone. The figures reflect ongoing economic challenges, highlighting the vulnerabilities in the manufacturing sector amidst broader European economic uncertainties. The decline signals potential challenges ahead for Germany’s industrial output as orders from key trading partners continue to falter.
Good Morning from Germany, where factory orders dropped by 5.8% MoM – the biggest decline since January – marking yet another setback for the industry in a year when Europe’s largest economy has struggled to achieve its much-anticipated recovery. Even if the 5.8% drop is partly… pic.twitter.com/OzIePsGAAt
— Holger Zschaepitz (@Schuldensuehner) October 7, 2024
Germany cannot catch a break, as new manufacturing orders take another 6% hit in August. t.co/CItgiwGLy1 pic.twitter.com/BPUgjap9tN
— Leo (@LeoNelissen) October 7, 2024
A lot of talk around the German economy health going from bad to worse, but still no one is talking about this
Narrator: hopefully Unicredit is running a proper DD on Commerzbank books not a $UBS style one t.co/j0DdJbgPkE
— JustDario 🏊♂️ (@DarioCpx) October 7, 2024
Sources:
markets.businessinsider.com/news/interestrates/german-factory-orders-sink-5-8-in-august-1033823476