May 7, 2018 / 6:13 AM / 9 months ago

German industrial orders fall unexpectedly in March

BERLIN, May 7 (Reuters) - German industrial orders fell unexpectedly in March, posting the third consecutive monthly drop, data showed on Monday, in a sign that factories in Europe’s largest economy will shift into a lower gear in the coming months.

Contracts for ‘Made in Germany’ goods decreased by 0.9 percent after a downwardly revised drop of 0.2 percent in the previous month, data from the Federal Statistics Office showed.

The reading undershot a Reuters poll of analysts who had predicted a 0.5 percent rise.

The economy ministry said that the sector had lost some momentum in the first quarter after an unusually strong performance in the second half of last year .

But despite the overall decline in the first three months of the year, the overall trend in industrial orders is pointing upwards, the ministry added. (Reporting by Michael Nienaber, Editing by Joseph Nasr)

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