German Factory Orders plunge 5.8% MoM in August vs. -2.0% expected

Germany’s Factory Orders slumped in August, according to the official data published by the Federal Statistics Office on Monday, suggesting that the German manufacturing sector lost its recovery momentum.

Over the month, contracts for goods ‘Made in Germany’ declined by 5.8% in August after unexpectedly rebounding 2.9% in July. Data missed the estimates of a 2.0% drop.