German orders down
BERLIN: German factory orders dropped for the second consecutive month in August, led by a drop in demand from countries outside the eurozone and lower demand at home. The Economy Ministry said on Tuesday that orders were down 1.8 per cent in seasonally adjusted terms compared with the previous month. That followed a 2.2 per cent drop in July. Orders from other countries in the euro area were up 2.5 per cent, following a smaller gain in July. However, demand from inside Germany was off 2.6 per cent and orders from outside the eurozone dropped 3.7 per cent. The Economy Ministry noted that demand from countries beyond the euro area appears to be ‘less reliable at present’.