German Industrial Orders Decline in August, Fueling Recession Worries - Forex News by Strategia Forex
German economy

German Industrial Orders Decline in August, Fueling Recession Worries

Posted Monday, October 7, 2019 by
Arslan Butt • 1 min read

According to data released by the Economic Ministry, German industrial orders posted a greater than expected decline for the month of August, adding to worries of the economy slipping into recession. Contracts for goods manufactured in Germany declined by 0.6% MoM in August, while demand for capital goods declined by 1.6% during this period.

The decline has come in worse than economists’ expectations which was for a 0.3% decline in contracts. The weakness in global economic growth, the US-China trade war and raging Brexit uncertainties have driven a weakness in Germany’s manufacturing sector over the past several months.

The latest data about declining industrial orders will only serve to drive greater gloom in the outlook for the German manufacturing sector. Germany’s economy is heavily dependent on its manufacturing sector and any downturn in this can significantly slow down overall economic growth not only in Germany but in the Eurozone as well.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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