BUSINESS
10/06/2011 06:33 EDT | Updated 12/06/2011 05:12 EST

German industrial orders down for second straight month with 1.4 per cent drop in August

BERLIN - The German government says industrial orders in Europe's biggest economy were down 1.4 per cent on the month in August, the second consecutive drop.

The Economy Ministry said Thursday the decline was due to a drop in orders from inside Germany that was exacerbated by the summer vacation. It also said the number of large orders was below average.

The fall followed a 2.6 per cent month-on-month decline in July. That figure was revised from the original estimate of a 2.8 per cent drop.

Recent data have pointed to slowing momentum in Germany, with business confidence declining amid concerns about the impact of the eurozone debt crisis.

The economy grew by only a weak 0.1 per cent in the second quarter. Third-quarter growth figures are due in mid-November.