BERLIN, Oct. 5 (Xinhua) -- German industrial orders dropped 1.3 percent in August largely due to weak domestic demand, official statistics released on Friday showed.
According to figures from the Economy Ministry, monthly domestic orders for industrial products dropped 3 percent despite a 2.4 percent increase in orders from other eurozone countries, while overall foreign orders remained unchanged.
"Orders for German industry have weakened, as expected in an overall weaker economic environment," the ministry said in a statement.
The drop in orders is a reverse from July's 0.3-percent-rise, giving more evidence that the eurozone crisis is hitting home for the bloc's strongest economy. German economic growth slowed to 0.3 percent in the second quarter from 0.5 percent in the first one.
Earlier surveys by Ifo economic institute showed that German business confidence also continued to fall in September, the fifth successive decline in a row.
As the biggest economy and main exporter in Europe, Germany has not shielded itself from the ongoing eurozone debt crisis. Its economy contracted by 0.2 percent in the last quarter of 2011, and is expected to grow by only 0.7 percent this year, according to the government forecast.
|
