German industrial orders fell in March amid weak foreign demand, in a sign that the country’s factories face rising protectionism and a stronger euro.
The Federal Statistics Office (Destatis) said industrial production declined by 0.9% following a downwardly revised 0.2% drop in February. Analysts had predicted a 0.5% rise.
The last time factory orders fell for three consecutive months was in mid-2015.
“The economy is slowing down, that is the sure take-away from today’s industrial orders data,” VP Bank Group analyst Thomas Gitzel said.
“The debate about tariffs has probably created great uncertainty in Europe’s export-driven industry,” he added.
