Economic weakness in German industry continues
The weakness of the German industry persists: According to statistics from the Federal Statistical Office released on Thursday, the industry received fewer orders again in May.
Compared to the previous month, the order intake therefore decreased by 1.6 percent. This was the fifth consecutive decline, the Federal Statistical Office reported. However, analysts had expected an average increase of 0.5 percent. In comparison to the previous year's month, orders fell by 8.6 percent.
The economic downturn has significantly impacted various industries, as evidenced by the German industry's fifth consecutive decline in order intake in May. This disappointing figure, reported by the Federal Statistical Office, indicates a challenging period that may extend into June.
