German Industrial Orders MoM: -2.4% (Forecast -0.7%, Previous -1.1%)

German Industrial Orders MoM: -2.4% (Forecast -0.7%, Previous -1.1%)

The pain for Germany's industrial sector continues.

(Reuters) - German industrial orders dropped more than expected in August compared to the previous month, with large-scale orders taking a hit in particular, data showed on Thursday.

New orders in manufacturing fell by 2.4% month on month on a seasonally and calendar adjusted basis, the federal statistics office said. Analysts had predicted a less severe 0.7% drop, according to a Reuters poll.

The office meanwhile revised up its reading for July, from a previously reported decline of 1.1% to 1.9% growth.

EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term