German factory orders fell 7.7 percent

German factory orders fell by 7.7 percent in August, above the expectations, revealing the effects of the raw material bottleneck in the markets and extended delivery times.

FACTORY ORDERS IN THE AUTOMOTIVE INDUSTRY DECREASE 12 PERCENT

Orders from auto and auto parts manufacturers fell 12 percent from the previous month due to supply shortages.

While the rapid recovery experienced all over the world created a raw material deficit in the markets, delivery delays increased along with supply problems.

He said the decline in August was due to the bulk orders in the previous month and the holidays at the facilities in August.