LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » World News

German factory orders fall on weak domestic demand

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Sep 06, 2017
03:39 pm
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

German industrial orders fell unexpectedly in July on feeble domestic demand while appetite from abroad was flat, data showed on Wednesday -- a rare sign of weakness in Europe`s largest economy less than three weeks before federal elections.

Recent buoyant economic figures had underlined the strength of the German economy and its consumption-led upswing ahead of the Sept. 24 vote in which Angela Merkel is expected to win a record-equalling fourth term as chancellor.

"This is not adding fuel to the hype about the economy," Bankhaus Lampe economist Alexander Krueger said, although he noted that the overall trend in orders is still upwards.

Factories registered a 0.7 percent drop in orders in July after contracts for goods made in Germany rose by 0.9 percent in June, data from the Economy Ministry showed. The reading for July far undershot a Reuters forecast of a 0.3 percent rise.

Excluding volatile bulk orders, the headline figure was up 0.6 percent in July, the ministry said.

The stronger euro did not seem to have dampened demand, with orders from countries outside the 19-member single currency bloc rising by 0.6 percent in July, Stefan Kipar at BayernLB said.LESS CONSUMER GOODS

The overall drop was mainly caused by a plunge in demand for consumer goods, but intermediate and capital goods orders also edged down on the month, a data breakdown showed.

Commerzbank analyst Ralph Solveen said the figures suggested that factories would still contribute to overall growth in the third quarter, but to a lesser extent than in the first half.

The Federal Statistics Office will publish industrial output data for July on Thursday (0600 GMT).

The ministry said order activity remained on a very high level overall. "In the past three months, German companies have registered nearly as many orders as they did before the outbreak of the economic and financial crisis in 2008," it added.

Orders and sentiment indicators pointed to a continuation of the solid upswing in the sector, the ministry added.

Recent figures have shown the number of Germans out of work falling further, consumer morale improving and the manufacturing sector expanding.

The German economy grew by 0.7 percent on the quarter in the first three months of the year and by 0.6 percent from April to June, driven by increased household and state spending as well as higher investment in buildings and equipment.

The International Monetary Fund (IMF) expects the German economy to grow by 1.8 percent in 2017 and by 1.6 percent in 2018 in real terms. This would be slightly below the 1.9 percent in 2016, which was the strongest rate in five years.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Rs 5, 10 and 100 news: Will old notes be valid after March 2021? Here is truth from Modi government

Stock market: Record-shattering gains, 50k BSE peak - What lies ahead? Analysts predict these big things amid Budget 2021

Budget 2021: Unprecedented! 1st time ever since 1947, this is going to happen in Union Budget 2021-2022

Bullet Train: Undersea tunnel! Here is latest news update on Mumbai-Ahmedabad High Speed Rail

UPSC Recruitment 2020: Result for these written examinations declared - Check full list of roll numbers

Policy reforms, sops and tax breaks? Volatility in key stock markets set to flare up as investors bet big on Budget 2021

Recovery of excess pension made to pensioners: Big decision! Important notification by RBI

Nearly Rs 10 lakh fine on wedding organiser for breaching Covid-19 lockdown; many guests left as police arrived

Budget 2021 Expectations LIVE: Here is what India wants - Check latest news, updates, demands here

Check Modi government's latest notices to Chinese apps including Tiktok, PUBG mobile game

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved