Industrial orders drop by 25% in Germany in April

Factory orders in Germany plunged even more than anticipated in April, underlining the effect the coronavirus pandemic has had on Europe's largest economy. The Economy Ministry said Friday that industrial orders dropped 25.8 per cent in April over the previous month, in figures adjusted for seasonal and calendar effects.

Economists had been predicting a 19.9 per cent drop for April, which is thought to have been the worst month of the economic deterioration ascribed to the pandemic and lockdown measures meant to slow its spread. The decline followed a 15 per cent drop already in March, and suggests lean times ahead for German industry.

Germany is already in a recession and the government's economic advisers are predicting a contraction of between 6 per cent and 7 per cent in 2020..