German factory orders growth delayed
The German factory orders rose less than forecast in September, sending consecutive negative sign for the status of the largest economy in the Eurozone in the second half of the year. Adjusted for seasonal changes and inflation orders rose 0.8% in the ninth month after a revised decline of 4.2% in August, according to the […]
The German factory orders rose less than forecast in September, sending consecutive negative sign for the status of the largest economy in the Eurozone in the second half of the year. Adjusted for seasonal changes and inflation orders rose 0.8% in the ninth month after a revised decline of 4.2% in August, according to the Ministry of Economy in Berlin, while the economists forecast growth of 2.3%.
Measured against the year earlier, however, the adjusted factory orders fell by 1%. Earlier this week the European Commission lowered its forecast for the euro area, including the three largest economies of the continent – Germany, France and Italy. German economy shrank in the second quarter, prompting the Bundesbank to predict zero or negligible growth for the full year partly because of problems with trade with Russia as a result of bilateral sanctions.
Later in the day ahead of the meeting of the Frankfurt-based European Central Bank. According to most analysts, the institution will not resort to corrections policy.
