By Max Bernhard
German manufacturing orders slowed by more than expected in July, data from the Federal Statistical Office showed Thursday.
Manufacturing orders fell 2.7% in July on the month, in adjusted terms. Economists polled by The Wall Street Journal had expected a decline of 1.5% on the month.
Compared with July 2018, order volumes dropped 5.6%, taking account of calendar and price effects.
New orders in the manufacturing sector got off to a weak start in the third quarter, the German economics ministry said.
"In view of the continuing smoldering international trade conflicts and the cautious business expectations in the manufacturing sector, there are no signs of a fundamental improvement in industrial activity in the coming months," it said.
Adjusted, domestic orders decreased by 0.5% and foreign orders fell by 4.2% in July compared with the previous month. New orders from the euro area were up 0.3%, while new orders from other countries dropped 6.7% compared with June.