German Industrial Orders Slump 10.6% in August
German industrial orders fell 10.6% month-on-month in August, significantly worse than the 1% decline forecast by economists. The sharp drop was largely attributed to a 61.5% slump in the 'other transport equipment' category.
6% month-on-month on a seasonally and calendar-adjusted basis, a much steeper drop than the 1% decline economists had expected. 5% slump in the 'other transport equipment' category, which includes aircraft and ships.