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German Industrial Orders MoM: -2.4% (Forecast -0.7%, Previous -1.1%)
The pain for Germany’s industrial sector continues.
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.
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