German factory orders dip in January amid slump in global demand

Berlin, Jumada I 27, 1437, Mar 7, 2016, SPA — German industry orders dropped for the second consecutive month in January as the slowdown in China and other major emerging markets hit demand in Europe’s biggest economy, dpa reported.
Monthly factory orders slipped by 0.1 per cent in January after falling by 0.2 per cent in December as both domestic and foreign demand slumped, the Economics Ministry said.
The January decline, however, was less than the 0.3-per-cent fall predicted by economists. On the year, order books were up 1.1 per cent in January.
The ministry also said it had revised up the December fall from an originally estimated 0.7-per-cent slump.
Total foreign orders gained 1 per cent in January compared with December thanks to a 7.5-per-cent jump in demand from the currency bloc, the ministry said.

–SPA
12:28 LOCAL TIME 09:28 GMT