By Geoffrey Smith
Investing.com -- Germany lurched closer to recession on Friday as new data showed orders to the key manufacturing sector slumping by an alarming 4.0%.
That was their sixth decline in the last seven months and the biggest decline since March. Analysts had expected a more gentle drop of 0.5%.
That left order volumes down 10.8% from a year earlier, albeit statistics office Destatis said the September 2021 figure had been exceptionally high due to rebound effects after the pandemic.
Domestic orders rose 0.5% but export orders fell 7.0%.