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German industrial orders plunge in January

Contracts for 'Made in Germany' goods fell by 3.9% in January
Contracts for 'Made in Germany' goods fell by 3.9% in January

German industrial orders fell more than expected in January, data showed today.

But the economy ministry said it expected manufacturing to continue to grow robustly in coming months and support a solid upswing in Europe's largest economy. 

Contracts for 'Made in Germany' goods fell by 3.9% in January after surging by a revised 3% in the previous month, data from the Federal Statistics Office showed. 

The reading was the weakest since January 2017 and undershot a Reuters poll of analysts who had predicted a 1.6% drop. 

"Despite the decline in January, the overall trend in industrial orders is pointing upwards," the economy ministry said.

It added that orders were up 0.9% in December and January compared to the previous two months.