German November industrial orders disappoint

Frankfurt: Industrial orders in Germany fell more sharply than expected in November, official data showed on Monday, adding to an emerging picture of softer growth in the final quarter of 2018.
Businesses reported new contracts down 1.0 per cent month-on-month, federal statistics authority Destatis said.
Analysts surveyed by data firm Factset had forecast a much less abrupt slowdown of just 0.1 per cent.
Excluding large orders for items such as aircraft, which often swing sharply from month to month, the fall still came in at 0.8 per cent.
Companies reported that orders from domestic customers rose 2.4 per cent but foreign orders fell 3.2 per cent.
All of the downturn was accounted for by an 11.6-per cent plunge in demand from Germany's eurozone neighbours, while orders from the rest of the world grew 2.3 per cent.
Firms making both consumer and producer goods reported fewer contracts, with falling demand at home, in the eurozone and in the rest of the world.
But a 14.1-per cent slump in orders from the eurozone braked strong increases in demand for capital goods in Germany and countries outside the single currency area.
In a statement, the economy ministry in Berlin highlighted strong growth in eurozone orders in October before they fell back in November.
On average, new contracts were still higher in October-November than in the previous three months, it said.
Meanwhile "the high stock of orders suggests that the situation for industry will continue to pick up, although with more moderate momentum," it added.