World News | Industrial Orders Drop by 25% in Germany in April

Berlin, Jun 5 (AP) Factory orders in Germany plunged even more than anticipated in April, underlining the effect the coronavirus pandemic has had on Europe's largest economy.

The Economy Ministry said Friday that industrial orders dropped 25.8 per cent in April over the previous month, in figures adjusted for seasonal and calendar effects.

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Economists had been predicting a 19.9 per cent drop for April, which is thought to have been the worst month of the economic deterioration ascribed to the pandemic and lockdown measures meant to slow its spread.

The decline followed a 15 per cent drop already in March, and suggests lean times ahead for German industry.

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Germany is already in a recession and the government's economic advisers are predicting a contraction of between 6 per cent and 7 per cent in 2020. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)