German industrial orders slump more than expected in August

BERLIN  – German industrial orders dropped more than expected in August compared to the previous month, with large-scale orders taking a hit in particular, data showed on Thursday.

New orders in manufacturing fell by 2.4 percent month on month on a seasonally and calendar adjusted basis, the federal statistics office said. Analysts had predicted a less severe 0.7 percent drop, according to a Reuters poll.

The office meanwhile revised up its reading for July, from a previously reported decline of 1.1 percent to 1.9 percent growth.