German manufacturing orders and French factory output both fell more than expected in March, underlining how Russia’s invasion of Ukraine, soaring commodity prices and Chinese coronavirus lockdowns are weighing on the eurozone economy.
New orders for German industry fell 4.7 per cent in March, compared to the previous month, according to data published by Destatis on Thursday. The decline was bigger than the 1.1 per cent expected by economists, according to a Reuters poll.
The main driver was a 6.7 per cent fall in export orders for German manufacturers. Orders from outside the eurozone fell even more, dropping 13.7 per cent. Separate data showed real turnover in German manufacturing fell 5.9 per cent in March.
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