Mumbai, Oct. 6 -- Seasonally and price-adjusted new factory orders in Germany tumbled by 10.6% in August compared to the prior month, the country's Federal Statistical Office Destatis revealed in a report released on Tuesday. On an annual basis, new orders climbed by 2.7%
The decline in manufacturing orders was attributed to a sharp decline in new orders of "other transport equipment," including aircraft, ships, trains, and military vehicles, which plunged by 61.5% compared to the previous month. The number of new orders also declined in the case of capital goods by 15.3% and in the manufacture of consumer goods by 7.3%, while new orders in the manufacture of intermediate goods fell by 2.6% compared to July.
In the reported month, domesti...