German industrial orders drop

German industrial orders fell unexpectedly in August on a decline in domestic demand, data from the economy ministry showed yesterday, adding to signs of a slowdown in Europe’s largest economy. Seasonally- and price-adjusted order intake sank 1.4 per cent on the month, driven by a 3.2 per cent drop in domestic orders. The mid-range forecast in a Reuters poll of 41 economists was for an increase of 0.3 per cent. The ministry revised July's figure up slightly to a 2.6 per cent drop, having originally reported a 2.8 per cent fall.