German Factory Orders drop 3.7% MoM in October vs. 0% expected

Germany’s Factory Orders unexpectedly declined in October, the official data published by the Federal Statistics Office showed Wednesday, suggesting that the German manufacturing sector recovery is in the doldrums once again.

On a monthly basis, contracts for goods ‘Made in Germany’ dropped 3.7% when compared to a 0.2% increase reported in September, missing the forecasts of a 0% reading.

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