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Manufacturing orders slip for first time in for months in Germany

Germany's manufacturing orders fell by 0.4% in November, when expected to rise by 0.5%

German manufacturing orders fell in November of last year, being the first dip since July 2017, according to the Financial Times.

The gauge dropped by 0.4% in November from October on a seasonally and working day adjusted basis.

The results differ from the Reuters forecasted 0.5% rise, which is anticipated to be the result of a decline in domestic and international demand.

October’s reading was also corrected from 0.5% to 0.7% according to the Federal Statistics Office.

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“Today’s drop in new orders should not ruin the current German growth party. In fact, the decrease comes after three consecutive increases and is rather of a technical nature than any sign of weakness,” reported Carsten Brzeski, and Economist at ING.

In November, Germany’s domestic and foreign orders delinked by 0.4% and 0.5%, respectively.

Eurozone orders increased by 0.7%, whilst orders from other countries fell by 1.2%.

According to Claus Vistesen, an Economist at Petheon Macroeconomics, the rise in European orders “chimes with the story of a continued cyclical upturn in the wider euro area economy at the end of last year.”

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