German industrial orders fall 10.6%
German factory orders fell 10.6% month-on-month in August on a seasonally and calendar-adjusted basis, compared with a 1% decline expected in a Reuters poll.
July's reading was revised to a 3.2% increase from the previously reported 2.5% rise.
The sharp decline was driven by a 61.5% fall in orders for other transport equipment, including aircraft, ships, trains and military vehicles. Excluding large-scale orders, orders declined only 0.1%, while orders in June-August increased 1.3% from the previous three months.
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