German factory orders dropped -0.6% mom in August, worse than expectation of -0.4% mom. Over the year, factory orders dropped -2.1% yoy. Domestic orders decreased by -2.6% mom and foreign orders increased by 0.9% mom. New orders from the euro area were up 1.5% mom, new orders from other countries rose 0.4% mom.
Manufacturers of intermediate goods saw new orders increase by 1.1% mom. The manufacturers of capital goods showed decreases of -1.6% mom. For consumer goods, a decrease in new orders of -0.9% mom was recorded.
