German industrial orders plunge by 7 percent in January
Frankfurt economy
Frankfurt am Main - Arab Today
Industrial orders in Europe's largest economy Germany plunged 7.4 percent in January, preliminary official data showed Tuesday, countering a sharp upswing in the previous month.
New orders -- a closely watched indicator of future economic performance -- had increased 5.2 percent in December, adjusting for price, seasonal and calendar effects, federal statistics office Destatis confirmed.
Analysts surveyed by Factset had predicted a much smaller fall in January of 2.5 percent.
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