Nation and World News

top news | u.s. | world | business | sports | health | tech | arts | search AP |
Mar 5, 4:52 AM EST

German factory orders down more than expected in January

Business Video

Latest Business News
Largest US banks all pass latest round of Fed 'stress tests'

Figures on government spending and debt

States on edge about the future of health insurance markets

How the Dow Jones industrial average fared on Thursday

AbbVie and Costco are big market movers

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Another solid month of job gains over 200K expected for Feb.

Egypt to offer projects worth $35 billion during conference

Bank of England votes to keep interest rates steady

China lowers growth target, promises to open industries

German factory orders down more than expected in January

US services firms grow at faster pace in February

AP survey: Why the outlook for global economy has brightened

Poland slashes interest rates to historic low of 1.5 percent

Eurozone showing signs of economic momentum

N. Korea shifts more responsibility to factories, farmers

Buy AP Photo Reprints
Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt
Interactive
Berlin Wall: 20 Years Later

BERLIN (AP) -- German factory orders, a key indicator for Europe's biggest economy, dropped much further than expected in January, led by a big drop in demand from other eurozone countries.

Orders were down 3.9 percent compared with the previous month, the Federal Statistical Office said Thursday. Economists had forecast a 1 percent decline.

The fall was led by a 9 percent drop in orders from elsewhere in the 19-nation eurozone, while domestic orders fell 2.5 percent and demand from other nations slipped 2.2 percent.

Germany's factory orders data can be volatile. The fall in January followed a 4.4 percent gain in December, revised upward Thursday from an initial reading of 4.2 percent.

The economy is in generally robust shape, with domestic demand strong thanks in part to low oil prices and a weaker euro set to help exports.

Economist Andreas Rees at UniCredit said that, despite January's orders setback, "there is no reason to worry."

"The latest decrease does not have anything to do with a sudden deterioration in fundamentals at the start of the new year," Rees said. "Instead, it is some kind of a technical breather after unusually strong rises in the previous few months."

© 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.