German Factory Orders Declined in April

The demand for German factory goods from outside the European “19-nation” plunged in April.

German Factory orders fell 2 percent from the previous month, according to the data released by the Economy Ministry in Berlin on Monday, making it the biggest monthly drop in almost a year.

“The retreat was spurred by a heavy drop in demand in non-eurozone countries,” Carsten Brzeski, the chief economist at ING bank, told Reuters in response to the new figures.

“It demonstrates a weakness in China and with other global export partners,” Brzeski added.

Oversea orders declined 4.3 percent, led by a 13.3 percent drop in investment goods order from outside the euro-area that followed an 11 percent increase the previous month, the ministry report showed.

Orders from the euro-area rose 2.5 percent and domestic orders rose 1.3 percent, marking the third consecutive monthly increase.