An Unexpected Drop in German Industrial Orders in April

Today’s data showed German industrial orders unexpectedly fell in April due to lower domestic demand, indicating that manufacturers in Europe’s largest economy are still affected by the closures aimed at containing the Coronavirus pandemic.

Data published by the federal statistics offices showed that orders for industrial goods fell 0.2%, after adjusting for seasonal factors.

That was far from a Reuters forecast for a 1% rise, and after an upwardly revised 3.9% increase in March.