German industrial orders unexpectedly fell in August, marking a fourth straight month of decline, official data showed Tuesday, the latest blow to the government\u2019s efforts to reboot the ailing economy.<\/p>\n
New orders, closely watched as an indicator of future business activity, dropped 0.8% month-on-month, according to preliminary figures from federal statistics agency Destatis, after sliding 2.7% in July.<\/p>\n
Analysts surveyed by financial data firm FactSet had predicted an increase of 1% in August.<\/p>\n
\u201cThe figures highlight the economy\u2019s bumpy road in all its ugliness,\u201d said LBBW bank analyst Jens-Oliver Niklasch. \u201cAfter a slight upward trend in the spring, the downturn is now back.\u201d<\/p>\n
Europe\u2019s biggest economy has faced two years of recession due to a manufacturing slump and increasing competition, particularly from China, and the US tariff onslaught has added to headwinds.<\/p>\n
Chancellor Friedrich Merz took office promising a blitz of spending on infrastructure and defence that many hoped would spark a turnaround for the export powerhouse.<\/p>\n
But, after a promising start to the year, recent data have proved disappointing, and criticism is mounting that the plans are moving too slowly.<\/p>\n
The August figures were pulled down by a steep fall in overseas orders, according to Destatis. The pharmaceutical sector as well as the crisis-hit auto sector saw hefty declines.<\/p>\n
But there was an increase in domestic orders, driven by a boom in the defence sector at a time European countries are rearming due to the growing Russian threat.<\/p>\n
In an update to their forecasts, leading economic institutes last month said they expect growth of just 0.2% in 2025, and warned that structural reforms were urgently needed.<\/p>\n
The government is due to update its growth forecasts on Wednesday.<\/p>\n
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