German Factory Orders drop 0.8% MoM in August vs. +1.4% expected

Germany's Factory Orders declined in August, suggesting that the country’s manufacturing sector remained in contraction, according to the official data published by the Federal Statistics Office on Tuesday.

Over the month, contracts for goods ‘Made in Germany’ dropped 0.8% in August after decreasing by 2.9% in July. Data missed the expected 1.4% rebound.