German Industrial Orders fall
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German Industrial Orders fall
German manufacturing orders fell even more than expected in April, highlighting the impact of the coronavirus pandemic on Europe’s largest economy. On Friday, the Ministry of Economics reported that industrial orders fell 25.8% in April compared with the previous month, and this indicates that difficult times are coming for German industry.
Germany is already experiencing a recession, and government economic advisers forecast a fall from 6% to 7% in 2020.source..