German factory orders fell sharply in October. This was shown on Monday by Statistics Bureau Destatis.
Orders decreased seasonally adjusted by 6.9 percent on a monthly basis in October. Economists, however, expected a plus of half a percent.
Foreign orders decreased by 13.1 percent on a monthly basis in October. Domestic orders, on the other hand, increased by 3.4 percent.
On an annual basis, orders decreased by 1.0 percent in October. A further plus of 10.3 percent was reported for September, an upward adjustment from the aforementioned 9.7 percent.