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The German Federal Ministry for Economic Affairs and Energy reported that in February, orders from industrial enterprises in the country fell by 4.2% compared to January, when their decline was 2.1%. Such a significant drop in orders was a surprise for economists, who had predicted an increase of 0.3%. The annual volume of orders fell even more, noting a decrease of 8.4% after a 3.6% drop in January. Industrial enterprises for the month reduced the volume of domestic orders by 1.6%. Orders from other countries decreased by 6%. The eurozone noted a decrease in orders by 2.9%. The volume of orders for consumer goods dropped by 3.5%, for production equipment - by 6%. The agency expects that in the coming months, foreign demand will remain weak, which will have a bad effect on the volume of industrial production in the country.
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month ...
Asian shares fell on Thursday as the U.S.-China tensions overshadowed hopes for more economic stimulus after Washington ordered the closure of Beijing’s consulate in Houston amid spying allegations. China called the order an “unprecedented ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
Lufthansa’s Chief Executive Officer Carsten Spohr announced on Sunday that the company would seek to avoid grounding and insolvency before a showdown between the airline’s biggest shareholder and the German government over the ...
KYC Policy