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German orders fall at their sharpest rate in almost three years in June
August 6, 2014 / 6:05 AM / 3 years ago

German orders fall at their sharpest rate in almost three years in June

BERLIN, Aug 6 (Reuters) - German industrial orders posted their biggest monthly fall since September 2011 in June as geopolitical developments and risks made companies more cautious about taking out contracts, data from the Economy Ministry showed on Wednesday.

Contracts fell by 3.2 percent on the month.

The reading missed the Reuters consensus forecast for a 1.0 percent increase and undershot even the lowest estimate for a decrease of 0.5 percent. The data for May was revised up to a drop of -1.6 percent from a previous -1.7 percent.

Bookings from the euro zone tumbled by 10.4 percent while domestic orders were down by 1.9 percent. (Reporting by Michelle Martin)

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