Weak foreign demand sinks German industry orders

BERLIN (Reuters) – Weaker demand from abroad unexpectedly dragged down German industrial orders in December, data showed on Wednesday, in a further sign that factories in Europe’s largest economy are shifting into lower gear due to a slowing world economy. Contracts for ‘Made in Germany’ goods were down by 1.6 percent – compared with a 0.3 percent rise forecast by economists – after an upwardly revised drop of 0.2 percent in the previous month, the Federal Statistics Office said. “The decline in orders in December indicates that the industry’s phase…

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