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Germany suffers drop of industrial orders in June

08 August 2012 00:38 (UTC +04:00)

Baku-APA. German industrial orders shrank by a larger-than-expected margin in June, as demands from the eurozone countries remained weak, official statistics showed on Tuesday, APA reports quoting Xinhua.

German economy ministry said in a statement that the monthly industrial orders contracted by 1.7 percent in June compared with the previous month, remarkably higher than the forecast of 0.9 percent fall.

"For the moment, industrial orders are not showing any clear trend," the statement said, noting that in May it showed a 0.7 percent rise.

The decline was largely due to a 4.9 percent slump in demand from the 17-member eurozone, whereas orders from other areas picked up by 0.6 percent at a month-to-month basis.

However, the overall industrial orders in the second quarter this year still posted a 0.6 percent rise in comparison to the first quarter, an increase to which the economy ministry attributed the vigorous demands from outside the common currency zone, notably the U.S. and China.