German factory orders slumped more than forecast in August as the US-China trade war and Britain’s Brexit crisis hit the manufacturing sector in Europe’s biggest economy.
Industrial orders fell by 0.6 per cent month to month in August after a hefty 2.1 per cent drop in July, the Ministry for Economics said on Monday.
Analysts had expected a 0.3 per cent fall in August.
Year on year, August orders contracted by 6.7 per cent from a 5 per cent fall in July, the ministry said.
Leading the monthly fall in August was a sharp 2.6 per cent drop in domestic orders, which helped to cancel out a 0.9 per cent gain in foreign orders.
