German industrial orders fell more than expected in November

BERLIN—Germany’s industrial orders fell 5.3% month-on-month on a seasonal and calendar-adjusted basis in November due to weaker foreign demand, the Federal Statistical Office said on Friday. .

A Reuters poll of analysts showed a 0.5% decline after a revised down 0.6% rise in October.

Orders from eurozone countries fell by 10.3% in the month, while orders from outside the eurozone fell by 6.8%.

VP Bank chief economist Thomas Gitzel said: “This shows just how strongly high energy prices are having an impact on the eurozone.

The development shows that “the industry is having a difficult winter despite recent improvements in business expectations for companies,” the economy ministry said.

A survey by the Ifo Institute of Economics found that 50.7% of manufacturing firms reported material shortage problems in December, down from 59.3% the previous month.

The Bureau of Statistics has issued a statement containing more economic data.