Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  March 07, 2013 14:20:52

- German factory orders unexpectedly fell in January

The volume of German factory orders in the manufacturing sector in January, adjusted for seasonal and inflation fell by 1.9% mom, compared to the December revised growth of 1.1%. January in the market for an average calculated with growth of 0.6%. The December figures were upwardly revised growth of pre-notified by 0.6%
Compared volume of orders decreased by 2.5%.

The volume of orders from the euro area in January fell by 4.1%. The total volume of export orders fell in January by 3%. The decline was recorded in all sectors from semi, through investment and consumer goods.
Altogether 40% of German exports go to eurozone countries.

It is estimated that an unexpected drop in orders growth is mainly due to uncertainty about the future development of the European debt crisis in the context of the Italian elections, negatively influenced also worried about the U.S. budget cuts.

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