German factory orders down 1 per cent in November

German factory orders down 1 per cent in November


BERLIN — German factory orders dropped in November, dragged down by a fall in demand from other eurozone countries.

The Economy Ministry said Monday that overall orders were 1 per cent lower than in the previous month following a slight 0.2 per cent gain in October.

The figure includes an 11.6-per cent drop in orders from elsewhere in the 19-nation eurozone, which more than cancelled out a 7.4 per cent gain a month earlier. Orders from inside Germany were up 2.4 per cent, and those from outside the eurozone rose 2.3 per cent.

Factory orders are an important indicator for the German economy, Europe’s biggest, which shrank in the third quarter — though that drop was blamed to a large extent on one-time factors stemming from new car emissions standards.

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