March 8, 2018 / 7:14 AM / 11 days ago

German industrial orders plunge in January

BERLIN, March 8 (Reuters) - German industrial orders fell more than expected in January, data showed on Thursday, but the economy ministry said it expected manufacturing to continue to grow robustly in coming months and support a solid upswing in Europe’s largest economy.

Contracts for ‘Made in Germany’ goods fell by 3.9 percent in January after surging by a revised 3.0 percent in the previous month, data from the Federal Statistics Office showed.

The reading was the weakest since January 2017 and undershot a Reuters poll of analysts who had predicted a 1.6 percent drop.

“Despite the decline in January, the overall trend in industrial orders is pointing upwards,” the economy ministry said, adding that orders were up 0.9 percent in December and January compared to the previous two months. (Reporting by Michael Nienaber Editing by Madeline Chambers)

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