German industry orders unexpectedly fall in August

August German factory orders slid unexpectedly for the second month running; a sign Europe’s largest economy is being hit by slowing global growth.

The ministry said that August’s sharp reduction was partly caused by “vacation effects”, but lowered its manufacturing orders data for July to show a monthly drop of 2.2%, compared with the 1.4% fall previously reported.

All metals declined, with copper dropping 0.7 percent to $5,140.50 a metric ton at 2:26 p.m.in Hong Kong, after climbing 1.5 percent on Monday.

All in all, the Q3 order flows are shaping up to be much weaker than the PMI or IFO business surveys have indicated.

A China-led slowdown in emerging markets is threatening Germany’s export-oriented economy.

Orders from other countries in the euro area were up 2.5 percent following a smaller gain in July, the Economy Ministry said in a statement. Republication or redistribution of content provided by EconoTimes is expressly prohibited without the prior written consent of EconoTimes, except for personal and non-commercial use.