German factory orders down sharply, contining trend

BERLIN (AP) — Official figures show that factory orders in Germany dropped 5.3% in November compared with the previous month, on a sharp drop in foreign demand. New orders, an important indicator for Europe’s biggest economy, dropped for the third time in four months following a 0.6% uptick in October. The Economy Ministry said that, while domestic orders were down 1.1%, there was an 8.1% decline in orders from outside Germany — with those from other countries in the euro area dropping 10.3%. It also pointed to a far-below-average volume of bulk orders and noted that November’s figures continued a downward trend since February. But it said that order books remain well-filled, supporting production.