8-Sep-2010 12:12 PM

German factory orders fall in Jul-2010; raises concerns for recovery

Germany’s Economy Ministry stated German factory orders fell unexpectedly in Jul-2010, declining 2.2% from Jun-2010 levels (when growth increased by a revised 3.6%). It was the largest reduction since Feb-2009, as demand in the Euro region weakened, indicating the recovery of Europe’s largest economy is losing momentum (Bloomberg, 07-Sep-2010).