June 5, 2020 / 6:14 AM / 2 months ago

Virus-hit German industry orders plummet 25.8% in April

BERLIN, June 5 (Reuters) - Orders for German industrial goods fell 25.8% in April, suffering their biggest drop since records began in 1991, data showed on Friday, as the coronavirus slashed domestic and foreign demand for goods from Europe’s biggest economy.

Figures from the Federal Statistics Office showed that domestic orders dropped 22.3% while orders from abroad were down 28.1%. Analysts polled by Reuters had expected a 19.7% fall in orders overall.

“In view of the gradual easing (in restrictions against the coronavirus), however, the low point of the industrial recession should now have been passed,” the Economy Ministry said in a statement. (Writing by Paul Carrel Editing by Michelle Martin)

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