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July 5, 2019, 2:41 a.m. EDT

German manufacturing orders worse than expected

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By Emese Bartha

German manufacturing orders fell more than expected in May, adding more weight to the suggestion that economic growth is moving to a slower lane in Europe's largest economy.

Manufacturing orders fell by 2.2% in May on the month, in adjusted terms, the German economics ministry said Friday, while the decline was more pronounced in annual terms, down 8.6%.

Economists polled by The Wall Street Journal expected a decline of 0.3% on the month.

While domestic orders increased by 0.7% in May from April, foreign orders declined significantly, by 4.3%, the Federal Statistical Office said.

Slowing growth in Germany is likely to add to market expectations of further stimulus measures being announced by the European Central Bank in the coming months.

Government bond markets are already pricing in this scenario, with the 10-year German Bund yield trading at all-time lows at around minus 0.40%.

Write to Emese Bartha at emese.bartha@wsj.com

(Hans-Joachim Koch in Frankfurt contributed)

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