German factory orders drop by 2.3 per cent in April

Fresh data has shown that German factory orders dropped by 2.3 per cent in April. Figures from the Deutsche Bundesbank were a surprise after orders rose by 2.3 per cent last month (revised from 2.2 per cent).

Economists had expected orders to drop by just 1.0 per cent. In the year to April factory orders have collapsed by 0.4 per cent.