German industrial orders decreased significantly

German industrial orders fell by 4.3 percent in September, compared to the datas of the previous month, mainly due to fewer orders for the Eurozone countries. Analysts expected only a 0.1 percent drop.

A larger decline – 6.6 percent – occurred in the peak of the global financial crisis, last time in January 2009. This was the third consecutive month, when the German industry gets less orders. In August decline was 1.4 percent. The shrinkage is clearly due to the euro area countries, as orders, because 12.1 percent less orders were received. Other countries contributed by only 0.3 percent to the losses. Germans domestic demand also fell by 3 percent. (MTI)