EWG - German factory orders dropped by 10.7% M/M much bigger-than-expected drop in March
2023-05-05 02:22:42 ET
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Factory Orders in Germany decreased 10.70 percent in March of 2023 over the previous month.
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“This is the strongest decline since the breaking down of new orders in April 2020 as a result of the corona pandemic.”
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On an annualized basis, Germany’s Industrial Orders arrived at -11.0% in the reported month vs. -8.3% expected and a -6.0% slump seen in Februrary.
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German factory orders dropped by 10.7% M/M, much bigger-than-expected drop in March