GERMAN FACTORY ORDERS PLUNGE

CNC
Added On August 8, 2018

A new report shows the German economy has felt the pain of global trade tensions, as its factory orders in June fell far more than expected.
 
Economy Report has more.
 
PKG
According to the country's Ministry of Economics, Germany's industrial order books slumped by a hefty 4 percent in June, which is even lower than the forecasted 0.4 percent decline.
 
It's believed that global tensions and uncertainty, caused by U.S. tariffs, were largely behind the downturn.
 
The German car industry has emerged as an early victim of the global trade conflict.
 
However, Germany's key mechanical engineering industry still stayed strong in June, with total orders for the industry surging by 13 percent year on year.