German manufacturing orders fall in November

German manufacturing orders fall in November

Manufacturing orders in Germany, Europe's largest economy, showed the highest decline in November as the Euro's gains against the US Dollar made exports more expensive and unemployment affected domestic sales negatively. The Economy and Labor Ministry announced that orders fell by 2.3% in November after rising 1% in October. Domestic and foreign orders were down by 2.7% and 1.9% respectively. The Euro's 10% appreciation against the US Dollar in the past four months threatens export growth whilst rising unemployment is still tempering domestic consumption.