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Germany's factory orders declined unexpectedly in August, data released by Destatis showed on Tuesday. Factory orders decreased 0.8 percent on a monthly basis, following a 2.7 percent decrease in July. This was in contrast to the anticipated increase of 1.2 percent. Excluding large orders, new orders were 3.3 percent lower than in the previous month. New orders for capital goods decreased 1.5 percent, while demand for consumer goods fell markedly by 10.3 percent. On the other hand, orders for intermediate goods rose 3.0 percent. Foreign orders decreased 4.1 percent in August. Orders from within the Eurozone fell 2.9 percent and that from outside the Eurozone slid 5.0 percent. In contrast, domestic orders grew 4.7 percent. On an annual basis, factory orders logged an increase of 1.5 percent after a decrease of 3.3 percent in July. Powered by Commodity Insights
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