German Factory Orders Plummet 11.3% in January, Missing Expectations.

According to data released by the Federal Statistics Office, German Factory Orders experienced a significant decline in January. This indicates a return to contraction for the German manufacturing sector.

The data revealed that orders for goods ‘Made in Germany’ fell by 11.3% monthly. This decline contrasts sharply with the 12.0% increase reported in December and was worse than the expected decrease of 6.0%.

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