Factory Orders in Germany Fall More than Expected

Germany’s economic ministry this morning reported that factory orders in the country fell by an adjusted -4.8% in November, the largest fall in the index in nearly three years. The consensus estimate projected a decline of -1.8%.

The largest decline came from non-European Union nations, from which orders fell by -10.3%. Orders from Eurozone partners fell -4.1%, and domestic orders fell by -1.1%.

The declines suggest that Europe’s largest economy, which is driven by its exports, could be weakening. A slowdown in Germany’s economy will not be well received by the global financial markets.