Germany’s factory orders down 10.9% in January

ISTANBUL

Germany’s factory orders posted a sharp decline in January, down by 10.9% on a yearly basis, official figures showed on Tuesday.

According to Destatis’ data, the turnover index in the manufacturing sector also dropped by 0.4% year-on-year in January.

On a monthly basis, factory orders posted a slight decline of 1%.

While domestic orders dropped by 5.3% in the month, foreign orders saw an increase of 5.5% on a monthly basis.