By Gokhan Ergocun
ISTANBUL (AA) - Factory orders in Europe's largest economy fell 7% month-on-month in January, German statistical authority Destatis said on Friday.
When large-scale orders are excluded, new orders were 2.7% lower than in the previous month, the statistical office said.
It added: "The less volatile three-month on three-month comparison showed that new orders in the period from November 2024 to January 2025 were 2.4% lower than in the previous three months; when large-scale orders are excluded, new orders were up 1.0%."
Meanwhile, factory orders also dropped 2.6% year-on-year in January.
In December, orders in the country rose 5.9% on a monthly basis but were down 6.9% on a yearly basis.
The negative figures in January are attributable to the sharp decline in new orders in the machinery and equipment sector (minus 10.7%) and in the transport equipment sector (minus 17.6%), Destatis explained.
New orders in the intermediate goods sector were down 1.4% in January 2025 on a monthly basis, and new orders for capital goods and consumer goods fell 11% and 2%, respectively.
Domestic orders dropped 13.2% month-on-month and foreign orders 2.3%, with new orders from the euro area slipping 2.5% and orders from outside the euro area down 2.3%.