German Factories See Orders Drop in Sign of Enduring Weakness [BNN Bloomberg (Canada)]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: BNN Bloomberg
Demand fell 0.4% from the previous month, defying economists' expectations for a 0.4% gain. Major orders drove the decline, without which there would have been growth of 0.1%, the statistics office said Tuesday in a statement. February's reading was also revised down to a 0.8% decrease, it said. The data show the fragility of Europe's biggest economy, despite its overall prospects having brightened after a contraction at the end of 2023. Sentiment indicators point to a more bullish mood among businesses and households, though an industry lobby survey also released Tuesday revealed German companies operating abroad don't see the global upswing boosting their own situations. Manufacturing, which plays a bigger role in Germany than in other countries in the region, remains troubled. Surveys by S&P Global showed the sector remained mired in contraction in April, while services activity grew at the fastest rate in 10 months. Factories have been plagued by subdued global demand and
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