Nov 6, 2014 5:10 AM
German factory orders rise less than expected
The Associated Press
BERLIN (AP) German factory orders rose only slightly in September, failing to make up for a sharp drop the month before as had been hoped.
The Federal Statistical Office said Thursday that orders rose 0.8 percent over August, following a revised 4.2 percent drop that month over July, according to figures adjusted for seasonal and calendar factors.
Foreign orders rose 3.7 percent, helping offset a 2.8 percent drop in domestic orders.
Following an economic contraction of 0.2 percent in the April-June period, analysts say Germany needs to post a strong rebound in September to avoid another drop in the third quarter, which would technically put Europe's largest economy in a recession.