German factory orders plunge, portending lean times ahead

Published by Maria Charalambous on

Women under umbrellas walk past the Old Opera in Frankfurt
       

German factory orders plunge, portending lean times ahead

June 5, 2020 · apnews.com

BERLIN (AP) — Factory orders in Germany plunged even more than anticipated in April, underlining the effect the coronavirus pandemic has had on Europe’s largest economy.

The Economy Ministry said Friday that industrial orders dropped 25.8% in April over the previous month, in figures adjusted for seasonal and calendar effects.

Economists had been predicting a 19.9% drop for April, which is thought to have been the worst month of the economic deterioration ascribed to the pandemic and lockdown measures meant to slow its spread.

The decline followed a 15% drop already in March, and suggests lean times ahead for German industry….

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