-10.6%: Germany’s Factory Orders fall in August, missed -1.0% estimates

Germany's Factory Orders dropped in August, suggesting that the country’s manufacturing sector activity lost momentum, according to the official data published by the Federal Statistics Office on Tuesday.

Over the month, contracts for goods ‘Made in Germany’ fell by 10.6% in August after rising by 2.5% in July. Data missed the estimated 1.0% decrease.

Germany’s Factory Orders increased by 2.7% year-over-year (YoY) in August, as against the previous rise of 14.0% (revised from 13.1%).