German Industrial Orders Down As Domestic Demand Falls
Frankfurt, June 7 (UrduPoint / Pakistan Point News - 7th Jun, 2021 ) :German industrial orders unexpectedly fell for the first time in four months in April as domestic demand dropped, official data showed Monday.
Industrial orders are closely watched as a key indicator of future economic activity, especially in manufacturing powerhouse Germany.
Germany's economy shrank in the first quarter as restrictions were imposed to counter a winter surge in Covid-19 cases.
Domestic orders fell by 4.3 percent in April after sharp growth the previous month, while foreign orders rose 2.7 percent.